Which of the following is true?
A) Real GDP is a measure of income, but not output.
B) Real GDP is a measure of output, but not income.
C) Real GDP is a measure of inflation.
D) Growth of output is necessary for the growth of income.

Question

Quizplus · Accepted Answer

Real GDP measures the value of all final goods and services produced, reflecting both income and output. Growth in output typically leads to growth in income, as more goods and services are produced and sold.

Which of the Following Is True