If you want to investigate the claim that more goods and services were produced in the economy during 2014 than 2015, what should you study?

Question

Quizplus · Accepted Answer

Real GDP adjusts for changes in prices, giving a more accurate measure of the quantity of goods and services produced. Nominal GDP, intermediate GDP, and GDP calculated using the expenditure or income approach do not take into account changes in prices, which can lead to inaccurate comparisons between different time periods. Therefore, real GDP is the best measure to study if more goods and services were produced in the economy during 2014 than 2015.

If You Want to Investigate the Claim That More Goods