GDP measured with constant prices is referred to as

Question

Quizplus · Accepted Answer

Real GDP is a measure of economic output that has been adjusted for inflation, meaning it is calculated using constant prices. This allows for a more accurate comparison of economic growth over time. Nominal GDP, on the other hand, is calculated using current market prices and does not account for changes in inflation. The GDP deflator is a measure of the price level in the economy, and industrial production refers specifically to the output of the manufacturing sector.

GDP Measured with Constant Prices Is Referred to as