The value of a country's final goods and services after adjusting for changes due to inflation is called its _____.
A)real GDP
B)nominal GDP
C)disposable income
D)net national product
E)full employment output

Question

Quizplus · Accepted Answer

Real GDP is the value of a country's final goods and services after adjusting for changes due to inflation, whereas nominal GDP is the value of a country's final goods and services without adjusting for changes due to inflation. Disposable income is the income available to households after taxes and transfer payments, net national product is the value of a country's final goods and services minus depreciation, and full employment output is the potential output of an economy when all resources are fully employed.

The Value of a Country's Final Goods and Services After