Real GDP is the

Question

Real GDP is the

Quizplus · Accepted Answer

Real GDP is the value of final output produced in a given period (usually a year or a quarter) measured in constant prices (adjusted for inflation). This helps to account for changes in the price level over time, providing a more accurate measure of economic growth or contraction. Nominal GDP, on the other hand, measures the value of final output produced in a given period measured in current prices (not adjusted for inflation), and therefore, it may overestimate or misrepresent changes in the actual level of production.

Real GDP Is the