212k views
0 votes
Gross Domestic Product that is adjusted for price changes is called _____.

a. nominal Gross Domestic Product
b. real Gross Domestic
c. Product inflation

User Lunar
by
6.9k points

1 Answer

7 votes

Answer: b. real Gross Domestic

Explanation:

Real Gross Domestic Product is known to be used in calculating the economic output or growth of a country in a year by measuring the value of all finished goods and services. Furthermore, it is referred to as inflation-adjusted Gross Domestic Product. Thus, the price level of goods and services is evaluated which makes it to be adjusted for price changes during inflation.

User Jason Morrison
by
6.9k points