An equivalent term for "real national income" is
A)nominal national income.
B)current-dollar national income.
C)constant-dollar national income.
D)actual national income.
E)potential national income.

Question

Quizplus · Accepted Answer

Real national income is the measure of national income adjusted for inflation or changes in price levels, which gives a more accurate picture of changes in the economy over time. The term "constant-dollar national income" is also used to refer to this concept. Nominal national income (A) refers to the current dollar value of national income, without adjusting for inflation. Actual national income (D) may refer to either nominal or real national income, depending on the context. Potential national income (E) refers to the maximum amount of output an economy can produce with its available resources, and is not directly related to measures of actual or real national income.

An Equivalent Term for "Real National Income" Is