What is the term for GDP that has been adjusted for changes in the price level?
A)nominal GDP
B)personal income
C)real GDP
D)net GDP

Question

Quizplus · Accepted Answer

Real GDP is the term for GDP that has been adjusted for changes in the price level. Nominal GDP is measured in current prices and does not reflect changes in the price level over time. Personal income is the amount of income that households receive from all sources, including wages, salaries, interest, dividends, and transfer payments. Net GDP is not a commonly used economic term.

What Is the Term for GDP That Has Been Adjusted