A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called
A) real GDP.
B) nominal GDP.
C) base GDP.
D) current GDP.
E) production GDP.

Question

Quizplus · Accepted Answer

Real GDP is a measure of GDP that adjusts for inflation by valuing goods and services at constant prices from a base year, providing a more accurate picture of true economic growth.

A Measure of GDP in Which Quantities Produced Are Valued