Real GDP:

is the current dollar value of all goods produced by the citizens of an economy within a given time.

measures economic activity and income.

is used primarily to measure long-run changes rather than short-run fluctuations.

Question

Nylah House

Business

20 April, 16:43

Real GDP:

is the current dollar value of all goods produced by the citizens of an economy within a given time.

measures economic activity and income.

is used primarily to measure long-run changes rather than short-run fluctuations.

+3

Answers (1)

Know the Answer?

Emily Walter · Answer 1

The correct answer is measures economic activity and income.

Explanation:

Real GDP is the economic measure to determine the total production of goods and services produced by a country at constant prices. This means that this indicator does not take into account price changes over time (inflation), which differs from nominal GDP, which does consider the value of money in a given period of time.

Real GDP:is the current dollar value of all goods produced by the citizens of an economy within a given time.measures economic activity and income.is used primarily to measure long-run changes rather than short-run fluctuations.

Real GDP:

is the current dollar value of all goods produced by the citizens of an economy within a given time.

measures economic activity and income.

is used primarily to measure long-run changes rather than short-run fluctuations.