The percentage change in real GDP from one period to another is called
A)Real GDP.
B)Nominal GDP.
C)The growth rate.
D)GDP per capita.

Question

Quizplus · Accepted Answer

The growth rate is the percentage change in real GDP from one period to another. Real GDP (A) is a measure of the total value of goods and services produced in an economy adjusted for inflation. Nominal GDP (B) measures the total value of goods and services produced in an economy without adjusting for inflation. GDP per capita (D) is the measure of real GDP divided by the population of an economy, providing an average measure of economic well-being per person.

The Percentage Change in Real GDP from One Period to Another