Fill in the blanks to make the following statements correct. a. If nominal GDP increases by 35

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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 __________ and how much is due to increases in _________ To overcome this problem, we look at GDP valued at ________ prices and we refer to this measure as ___________ national income.

b. GDP divided by total population gives us a measure of __________

c. GDP divided by the number of employed persons in Canada gives us a measure of labour __________.

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Macroeconomics

ISBN: 9780133910445

15th Edition

Authors: Christopher T S Ragan

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