A measure of production that does not correct for inflation is

Question

Quizplus · Accepted Answer

Nominal GDP is the measure of production that does not correct for inflation, as it reflects the current market value of all goods and services produced in a given year, without adjusting for changes in price levels. Real GDP, on the other hand, takes into account changes in price levels by adjusting nominal GDP for inflation. The CPI and GDP price deflator are both measures of inflation, while value added refers to the contribution of each stage of production to the final value of a good or service.

A Measure of Production That Does Not Correct for Inflation