A measure of the value of a country’s economic output that’s adjusted for price changes is called as:
Real GDP measures output after adjusting for price changes. Nominal GDP uses current prices, while potential GDP concerns the level of output an economy can sustain.
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A measure of the value of a country’s economic output that’s adjusted for price changes is called as:
Answer and explanation
Correct answer C
Real GDP measures output after adjusting for price changes. Nominal GDP uses current prices, while potential GDP concerns the level of output an economy can sustain.
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Kerala SET (LBS Centre)