Question

ou have just read an explanation of the figures you studying as the total dollar value of final goods and services produced within a country in one year after adjustment for inflation. What is this statement describing?

Answer 1

Answer:

REAL GDP

Explanation:

GDP typically used as a variable to measure a nation's economic strength within a certain time period. But often time, the value of GDP is a little bit jaded. If the inflation is high, an increase in GDP doesn't really mean that the country become more productive.

This is why there are many experts prefers to use REAL GDP as a more accurate unit to measure the economic strength.