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Question
Real GDP is considered as an index of:
Options
price level in the economy
welfare of the people
profit maximization
none of the above
MCQ
Solution
welfare of the people
Explanation:
The availability of items and services for consumption per person determines people's perception of material well-being, which is referred to as welfare elis. When GDP rises, so does the flow of goods and services.
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Gross and Net Domestic Product (GDP and NDP)
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