If real GDP increased during a year, then output must have increased.

Name: If real GDP increased during a year, then output must have increased.
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Question

Quizplus · Accepted Answer

This statement is true by definition. Real GDP measures the value of all final goods and services produced within a country's borders during a given period of time adjusted for inflation. Therefore, if real GDP increases, it means that the economy as a whole produced more output than in the previous year.

If Real GDP Increased During a Year, Then Output Must