Which of the following economic terms describes the total value of a nation's goods or services that have been adjusted for inflation?
A) Altered gross domestic product
B) Gross domestic product
C) Real gross domestic product
D) Altered gross national product
E) Gross national product

Question

Quizplus · Accepted Answer

Real gross domestic product (GDP) is the total value of a nation's goods or services that have been adjusted for inflation, providing a more accurate representation of a country's economic output. Altered gross domestic product and altered gross national product are not recognized economic terms. Gross domestic product and gross national product do not take inflation into account.

Which of the Following Economic Terms Describes the Total Value