Answered: Suppose in a given year, GDP was $8,542…

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Suppose in a given year, GDP was $8,542 billion and the GDP chain price index for that year is 119.5. Real GDP is:

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section7.4: Real Gdp

Problem 1ST

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Suppose in a given year, GDP was $8,542 billion and the GDP chain price index for that year is 119.5. Real GDP is:

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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