Real GDP measures the value of goods and services produced in a given year, valued using
A) real rather than nominal prices.
B) prices that prevail the same year.
C) no prices.
D) future prices.
E) base-year prices.

Question

Quizplus · Accepted Answer

Real GDP measures the value of goods and services using prices from a base year to account for inflation and provide a more accurate reflection of an economy's size and how it's growing over time.

Real GDP Measures the Value of Goods and Services Produced