Real gross domestic product is a measure of the
A)average price level in the economy.
B)value of final output produced within a country in one year, using current prices.
C)value of final output produced within a country in one year, adjusted for changing prices.
D)total value of available resources in a nation.

Question

Quizplus · Accepted Answer

Real GDP measures the value of final output produced within a country in one year, adjusted for inflation or deflation, reflecting the actual economic output.

Real Gross Domestic Product Is a Measure of the