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Question : GDP calculated at some constant set of prices is called ____________.

Option 1: real GDP

Option 2: domestic GDP

Option 3: current GDP

Option 4: nominal GDP


Team Careers360 14th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: real GDP


Solution : The correct option is real GDP .

GDP calculated at some constant set of prices is called "real GDP". Real GDP adjusts for inflation or deflation, providing a more accurate measure of an economy's actual growth by expressing the value of goods and services in constant, base-year prices, allowing for meaningful comparisons across different periods.

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