Nominal gross domestic product (GDP)is a better measure of growth in production than real GDP.

Name: Nominal gross domestic product (GDP)is a better measure of growth in production than real GDP.
Brand: Quizplus
Rating: 4.8 (30 reviews)

Question

Quizplus · Accepted Answer

Real GDP is adjusted for inflation, which allows for a more accurate comparison of economic output over time. Nominal GDP does not take inflation into account and can be misleading, as changes in GDP could be due to changes in prices rather than actual production.

Nominal Gross Domestic Product (GDP)is a Better Measure of Growth