If you want to investigate the claim that more goods and services were produced in the economy during 2011 than 2012,what should you look at?

Question

Quizplus · Accepted Answer

Real GDP is adjusted for inflation and represents the total value of goods and services produced in an economy, so it is the best indicator to compare production between two years. Nominal GDP measures the value of goods and services at current prices, but it can be misleading if prices have changed significantly between the years. Intermediate GDP is a concept that refers to the value of goods and services used as inputs in the production process, so it is not directly related to total output. GDP calculated using the expenditure approach includes consumption, investment, government spending, and net exports, but it doesn't provide information on the inflation-adjusted value of production.

If You Want to Investigate the Claim That More Goods