Homework Help is Here – Start Your Trial Now!
Business
Economics
Suppose you are reading a magazine showing a figure that plots the U.S. GDP from 1900 to 2012 in "2005 chained dollars" . It a) The GDP is calculated using 2005 prices; b) The GDP is calculated applying the variable-weighted price-index approach with 2005 as the base 9. means: year; c) The GDP is price-adjusted based on the chain-weighted price-index approach with 2005 as the base year. d) None of the above.

Suppose you are reading a magazine showing a figure that plots the U.S. GDP from 1900 to 2012 in "2005 chained dollars" . It a) The GDP is calculated using 2005 prices; b) The GDP is calculated applying the variable-weighted price-index approach with 2005 as the base 9. means: year; c) The GDP is price-adjusted based on the chain-weighted price-index approach with 2005 as the base year. d) None of the above.

Macroeconomics: Private and Public Choice (MindTap Course List)
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 6CQ
See similar textbooks
icon
Related questions
Question
Suppose you are reading a magazine showing a figure that plots the U.S. GDP from 1900 to 2012 in "2005 chained dollars" . It means: a) The GDP is calculated using 2005 prices; b) The GDP is calculated applying the variable-weighted price-index approach with 2005 as the base 9. year; c) The GDP is price-adjusted based on the chain-weighted price-index approach with 2005 as the base year. d) None of the above.
Transcribed Image Text:Suppose you are reading a magazine showing a figure that plots the U.S. GDP from 1900 to 2012 in "2005 chained dollars" . It means: a) The GDP is calculated using 2005 prices; b) The GDP is calculated applying the variable-weighted price-index approach with 2005 as the base 9. year; c) The GDP is price-adjusted based on the chain-weighted price-index approach with 2005 as the base year. d) None of the above.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Consumer Price Index
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Macroeconomics: Private and Public Choice (MindTa…
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
Economics
ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS