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When calculating GDP: you must always use the most recent year as the base year. us O a. True b. False Clear my choice CPI stands for Consumption Price Index a True @b. False Only the prices of investment goods bought by businesses into account the cordo ob. False intermediate goods and services are not used in the production of another good or service O a True Ob False if the consumer price index is 1032 for a certain year, we can conclude that prices have eisen by 5 percent relative to the buyer True b. False 6 Gross domestic product only counts the value of mediate goods and services O true The GDP deflator is the ratio of nominal GDP to real GDP O a True Ob False Any year for which price data exists can be chosen for a base yan True o bralce in order to compare 5 tompoon to 2 tablespoons, you need to put both measures into the won the powe milers. A conversion such as this is not necessary when calculating male since all meatures are ready in the wors Bath ob. False Final goods are those that are ready to be consumed by the end user a. True Ob. False in the base year, nominal GOP and real GOP sum to 100 o True ob False Income and spending are always equal because households cannot spend money that they do not receive One Ob False When we measure GDP, we sometimes measure income or output even though GDP is a measure of the value of spending. a. True b. False Income and spending are always equal because any money that is flowing toward someone income) must be doing away from somecoe eletupending a True ob, False GDP measures the value of output based on when and by whom the output is produced a True Ob False

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