Real GDP is the value of final goods and services produced in a year
A)expressed in the prices of that same year.
B)during a recession.
C)minus depreciation.
D)expressed in the prices of a base year.
E)minus the value of all the intermediate goods produced.

Question

Quizplus · Accepted Answer

Real GDP is expressed in the prices of a base year, which is used as a benchmark to measure economic growth. This allows for inflation to be accounted for, as changes in prices over time can distort economic output.

Real GDP Is the Value of Final Goods and Services