Answer:
The correct answer is "nominal GDP measures the value of output in current-year prices, while real GDP measures output using constant prices."
Explanation:
The real GDP growth is the value of all goods produced in a given year; nominal GDP is the value of all the goods taking price changes into account.
The nominal GDP is the value of all the final goods and services that an economy produced during a given year. It is calculated by using the prices that are current in the year in which the output is produced. The nominal GDP takes into account all of the changes that occurred for all goods and services produced during a given year. For example, a nominal value can change due to shifts in quantity and price.
The real GDP is the total value of all of the final goods and services that an economy produces during a given year, accounting for inflation. It is calculated using the prices of a selected base year.
The correct answer is "nominal GDP measures the value of output in current-year prices, while real GDP measures output using constant prices."
<u>Answer: </u>Higher spending than taxing results in a deficit, which contributes to more debt.
<u>Explanation:</u>
Here the red bar is referred to the debt and the blue bar is referred to the spending. When the government spending is more it decreases the government revenue and creates a deficit in the funds. When there is deficit it means the government borrows funds for spending which increases the debts.
Government spending to improve the status of the economy in the country. It Invests is various activities for growth and development purpose. Only on collecting high taxes the revenue of the government will increase. When taxes collected are low the government revenue is also low.
Answer:
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