Which of the following is the best measure of an increase in actual output?

Question

Quizplus · Accepted Answer

Real GDP measures the actual increase in output by adjusting for changes in prices. Nominal GDP, on the other hand, only measures the value of output using current prices and does not account for inflation. Per capita GDP measures the output per person in the economy and does not necessarily capture the overall increase in output. GDP per dollar is not a commonly used measure and is not relevant in this context. Therefore, real GDP is the best measure of an increase in actual output.

Which of the Following Is the Best Measure of an Increase