Macroeconomics
4th Edition
ISBN: 9780393602487
Author: Jones, Charles I.
Publisher: W. W. Norton & Company
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Question
Chapter 2, Problem 5E
To determine
Illustrate the missing real GDP in 2018 and 2020
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At the end of the year 2020, Statistics Kenya estimated the total amount spent on consumption, government purchases, investment and net export of goods and services to arrive at the country’s GDP.
What measurement approach is described above?
The GDP data collected for the current year for a number of countries are called _____.
Select one:
a. cross-section data
b. time-series data
c. panel data
d. experimental data
Differences in nominal GDP between years can be due to either price changes or quantity changes.
Select one:
True
False
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