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Question: GDP measures  a. The market value of intermediate products produced during the year  b. The sum o...

Show transcribed image text GDP measures a. The market value of intermediate products produced during the year b. The sum of the market value of both final and intermediate products produced during the year c. The sum of the market value of final products produced and imported during the year d. The market value of final products produced in the nation during the year Why has nominal GDP typical increased more rapidly than real GDP? a. Because of inflation b. Because of unemployment c. Because of high interest rates d. Because of deflation Which of the following typically affects our well-being but is NOT included in GDP? a. Non-market goods b. The value of leisure c. The cost of environmental damage d. All of the above It is generally agreed that the U.S. economy is current in the expansion phase of a business cycle. Which of the following is true? a. Equilibrium real GDP is growing b. Cyclical unemployment is increasing c. The natural rate of unemployment is increasing d. The GDP def

GDP measures a. The market value of intermediate products produced during the year b. The sum of the market value of both final and intermediate products produced during the year c. The sum of the market value of final products produced and imported during the year d. The market value of final products produced in the nation during the year Why has nominal GDP typical increased more rapidly than real GDP? a. Because of inflation b. Because of unemployment c. Because of high interest rates d. Because of deflation Which of the following typically affects our well-being but is NOT included in GDP? a. Non-market goods b. The value of leisure c. The cost of environmental damage d. All of the above It is generally agreed that the U.S. economy is current in the expansion phase of a business cycle. Which of the following is true? a. Equilibrium real GDP is growing b. Cyclical unemployment is increasing c. The natural rate of unemployment is increasing d. The GDP def