Practicing Success
What do you understand by the term "Real GDP"? |
Employment adjusted value of goods and services Inflation adjusted value of goods and services Poverty adjusted value of goods and services Pollution adjusted value of goods and services |
Inflation adjusted value of goods and services |
Real gross domestic product (real GDP) is a measure which is inflation-adjusted and reflects the value of all goods and services produced by an economy in a given year. Real GDP is expressed in base-year prices and is often referred to as constant price GDP. It gives a true reflection of the output of an economy. |