Which of the following Is @ measure of economic growth that I1s most useful for measuring changes In the overall size of an economy? Multiple Choice O growth in nominal GDP O decreases in the rate of unemployment O increases in real GDP per capita O increases in real GDP The table below shows hypothetical values of the expenditure components for the United States In 2016. Expenditures In the United States Amount of Expenditure (billions of Expenditure Component dollars) Durable goods $1, 230. 6 Nondurable goods 2, 562.9 Services 7, 511. 1 Gross investment 2, 610.9 Exports 2, 232.8 Imports 2, 737 .2 Federal government 1, 218.0 State and local government 1, 883 .7 Using the values In the table, calculate the following aggregate expenditures and nominal GDP. Instructions: Round your answers to one decimal place. If you are entering a negative number, Include a minus sign. a. Calculate consumption expenditures In 2016. $ billion b. Calculate the amount of net exports In 2016. $ billion c. Calculate nominal GDP In 2016. $ billionGDP tends to Multiple Choice O overstate economic welfare, because it does not include certain nonmarket activities such as home producticn. O understate economic welfare, because it includes expenditures undertaken to offset or correct pollution. O understate economic welfare, because it does not take into account increases in leisure. O overstate economic welfare, because it does not reflect improvements in product quality. Nominal GDP Is the market value of Multiple Choice O resources (land, labor, capital, and entrepreneurship) in an economy in a given year. O all final goods and services produced in an economy in a given year. O all consumption and investment spending in an economy in a given year. O all output produced and accumulated over the years.GDP measured using base year prices is called Multiple Choice O nominal GDP. O real GDP. O constant GDP. O deflated GDP.Real GDP refers to Mutltiple Choice O the value of the domestic output after adjustments have been made for environmental pollution and changes in the distribution of income. GDP data that embodies changes in the price level but not changes in physical output. GDP data that does not reflect changes in both physical output and the price level. GDP data that has been adjusted for changes in the price level. When are net exports negative? Multiple Choice O when a nation's imports exceed its exports O when the economy's stock of capital goods is declining O when depreciation exceeds domestic investment O when a nation's exports exceed its importsWhich of the following Is @ measure of economic growth that I1s most useful for measuring changes In the overall size of an economy? Multiple Choice O growth in nominal GDP decreases in the rate of unemployment increases in real GDP O increases in real GDP per capita