_____ is the economy's aggregate output measured in dollars of constant purchasing power.
A) GDP
B) The price level
C) Nominal GDP
D) Real GDP
E) Aggregate output

Question

Quizplus · Accepted Answer

Real GDP is the economy’s aggregate output measured in constant dollars, which means it adjusts for changes in the price level and provides a more accurate measure of economic growth over time. Nominal GDP, on the other hand, is the economy’s aggregate output measured in current dollars and does not adjust for changes in the price level, making it an imperfect measure of economic growth.

_____ Is the Economy's Aggregate Output Measured in Dollars of Constant