Answer to Question #165000 in Macroeconomics for Ghana

Question

Fill in the blanks to make the following statements correct.

a. If nominal GDP increases by 35 percent over a​ 10-year period, then it is unclear how much of this increase is due to increases in _______(savings/outputs)

and how much is due to increases in _______(investment/prices)

 . To overcome this​ problem, we look at GDP valued at ________(constant/current)

 prices and we refer to this measure as _____(real/nominal)

national income.

Answer 1

a) outputs

prices

b) current

real