Economic Measurement Quiz

The value of goods and services produced within a country's borders

The value of goods and services produced by a country's citizens, domestically and abroad (correct)

The value of goods and services imported by a country

The value of goods and services consumed by a country's citizens

The value of goods and services expressed in terms of prices prevailing in the base year (correct)

The market value of goods and services produced by all citizens of a country

The value of goods and services at current prices

The value of goods and services at current year prices

Real GNP = Nominal GNP - Price Index

Real GNP = Nominal GNP + Price Index

Real GNP = Nominal GNP * Price Index

Real GNP = Nominal GNP/Price Index (correct)

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