Real output, real income and real expenditure are all measures of:
A) real consumption.
B) real GDP.
C) real investment.
D) real net exports.

Question

Quizplus · Accepted Answer

Real output, real income, and real expenditure are all different ways to measure real GDP. Real GDP provides a comprehensive measure of the economic activity within a country, accounting for the total value of all goods and services produced over a specific time period, adjusted for inflation. This ensures that the measurement reflects the true value of an economy's production and its capacity to provide goods and services to meet both domestic and international demand.

Real Output, Real Income and Real Expenditure Are All Measures