The correct answer is Real GDP reflects output more accurately than nominal GDP by using constant prices.
Gross domestic product (GDP) represents the sum (in monetary values) of all final goods and services produced in a given region (whether countries, states or cities) over a given period (month, quarter, year). GDP is one of the most widely used indicators in macroeconomics to quantify the economic activity of a region.
In the GDP count, only final goods and services are considered, excluding all intermediate consumer goods from the account. This is done to avoid the double counting problem, when values generated in the production chain are counted twice in the sum of GDP.
Answer:
By a vote of 5-4, the U.S. Supreme Court ruled in favor of Massachusetts and against the EPA. Justice John Paul Stevens wrote the majority opinion. First, the court argued that Massachusetts and the environmental advocacy groups had standing to challenge the EPA in court.
Explanation:
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When the equilibrium price and the equilibrium quantity both raise, then there is no change in demand and while supply increased.
<h3>What is the equilibrium point?</h3>
In economics, equilibrium means that the price and quantity of any product are equal. This situation clearly defined a situation in which demand equals price and quantity, and there is no shortage and goods remain on the market.
As a result, When both the equilibrium price and the equilibrium quantity rise, there is no change in demand while supply rises. Refer to the image below for the complete question.
For more information on the equilibrium quantity, refer to:
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Answer:
real depreciate , nominal appreciate
Explanation:
