Blackboard X X Show Timer Question Completion Status: Why is real GDP a more accurate measure of an economy's production that nominal GDP? Real GDP does not include the value of intermediate goods used in production, whereas, nominal GDP does include their value. O Real GDP is not influenced by price changes, whereas, nominal GDP is influenced by price changes. Real GDP measures the value of goods and services an economy produces, whereas, nominal GDP measures the value of goods and services an economy consumes. Real GDP measures the value of a fixed basket of goods (determined by some base year) an economy produces in a given period of time, whereas, nominal GDP measures current production of all goods and services an economy produces in a given period of time. QUESTION 19 A recent technological advancement that increases efficiency in production will O shift the supply curve for loanable funds to the right. O shift the demand curve for loanable funds to the right. O shift the supply curve for loanable funds to the left shift the demand curve for loanable funds to the left. QUESTION 20 Which of the following is correct? O Cyclical unemployment is caused by an increase in either structural unemployment or frictional unemployment. If there is a decrease in the minimum wage, than frictional unemployment would decrease. Extensions in unemployment insurance benefits would increase frictional unemployment because it reduces the job search efforts of the unemployed. A sectoral shift affects structural unemployment because the change in the composition of labor demand across certain industries or regions will displace some workers who must then take time to search for a job to match their skills. Click Save and Submit to save and submit. Click Save All Answers to save all answers. hp