Fill in the Blank QuestionFill in the blank question. GDP uses prices from a base year also referred to as constant prices.
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Solution 1
The statement is correct. GDP uses prices from a base year, which is also referred to as constant prices. This method is used to adjust for the effects of inflation, allowing for a more accurate comparison of economic output from one year to another. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool de
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