Real output in an economy may be expressed as the ratio of _____________.
A) GDP to real output
B) real output to GDP
C) price level to GDP
D) GDP to price level

Question

Quizplus · Accepted Answer

Real output in an economy is typically expressed as the ratio of GDP to the price level. This adjusts the nominal GDP figure for the effects of inflation, providing a clearer picture of the economy's actual output.

Real Output in an Economy May Be Expressed as the Ratio