What is the importance of real GDP

Law

1 answer:

zhannawk [14.2K]2 years ago

6 0

Answer:

The Gross Domestic Product is a statistical measure that allows determining the value of all the goods and services produced in a given place and time. Thus, for example, this measure is used to measure the economic performance of nations in each year.

However, the GDP does not account for eventual abnormal changes in the economy, such as inflation or currency devaluations. Therefore, these factors are included in a new measure, the real GDP, which shows the growth or decrease of the economy considering the economic context in which it develops.

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