Which of these describes the real gross domestic product?
A)Gross domestic product from which depreciation costs have been deducted
B)Gross domestic product that has been adjusted for changes in the price level
C)Gross domestic product from which taxes have been deducted
D)Gross domestic product that has been adjusted for changes in exchange rate
E)Gross domestic product that has been adjusted for changes in interest rates

Question

Quizplus · Accepted Answer

Real gross domestic product (real GDP) is the value of goods and services produced in an economy adjusted for changes in the price level. This allows for comparisons of GDP over different time periods without the distorting effects of inflation.

Which of These Describes the Real Gross Domestic Product