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In the circular flow model, the value of total income for an economy ________ the value of total production. Part 2 A. may be greater
In the circular flow model, the value of total income for an economy ________ the value of total production. Part 2 A. may be greater than or less than B. is greater than C. is less than D. equalsThe drawback to calculating real GDP using baseminusyear prices is that Question content area bottom Part 1 A. relative prices change over time and these changes are reflected in baseminusyear prices. B. real GDP in one year is not comparable to real GDP in another year. C. quality changes are reflected in baseminusyear prices. D. relative prices change over time and these are not reflected in baseminusyear prices, and this distorts GDP
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