Real GDP measures the value of goods and services produced in a given year valued using
A)base year prices.
B)prices that prevail the same year.
C)no prices.
D)future prices.
E)real rather than nominal prices.

Question

Quizplus · Accepted Answer

Real GDP measures the value of goods and services produced in a given year using the prices from a base year to account for inflation and provide a more accurate reflection of an economy's size and how it's growing over time.

Real GDP Measures the Value of Goods and Services Produced