The inflation-adjusted measure of aggregate output typically used by economists is called:
A) aggregate output.
B) nominal gross national product.
C) net domestic product.
D) real gross domestic product.

Question

Quizplus · Accepted Answer

Real Gross Domestic Product (GDP) is the measure used to account for the effects of inflation on the overall economic output of a country. GDP represents the total value of goods and services produced within a country's borders, adjusted for price changes over time. This allows for an accurate comparison of economic performance from year to year, without the distortion of inflation.

The Inflation-Adjusted Measure of Aggregate Output Typically Used by Economists