Question

which of the following is not a determinant of the long-run level of real gdp? a. available technology b. the price level c. available stock of human capital d. the amount of capital used by firms

Answer 1

The option that is not a determinant of the long-run level of real GDP  is  option b. the price level.

How does real GDP work?

Real GDP is a metric that takes inflation into account and examines the rate at which all goods and services produced in a nation for a specific year. It is referred to as a fixed cost price and is indicated in foundation year prices.

Hence, the elements that influence real GDP are:

• Household wealth and income.
• fiscal management.
• Exchange rate, monetary policy.
• Global economic expansion
• Business self-assurance.
• confidence among consumers

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