Economic Indicators and the Business Cycle
What does the GDP deflator compare to measure the effects of inflation?
Which indicator would an economist use to compare the standard living among different countries?
When comparing two years' gross domestic products to measure economic growth accurately, which version should be used to neutralize the effect of inflation?
Which term is used to describe the index that "deflates" nominal GDP to account for high prices?
Which measure of GDP accounts for changes in the purchasing power of money?
When calculating real GDP, which variable is held constant from year to year?
When comparing two years' worth of economic output data to assess real growth, economists should use which type of GDP?
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A decrease in which measure would typically signal an upcoming recession when considering business cycle fluctuations?
Given the US Economy experiences higher than expected inflation this year, what would you expect nominal GDP to show compared to the previous year?
How might contractionary monetary policy influence nominal interest rates and investment when an economy is experiencing rapid economic growth?