Real GDP is calculated using:
A) prices at the time of sale.
B) the cost of production.
C) the same prices in all years.
D) a correction for inflation.

Name: Real GDP is calculated using: A) prices at the time of sale. B) the cost of production. C) the same prices in all years. D) a correction for inflation.
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Question

Quizplus · Accepted Answer

Real GDP is calculated using constant prices from a base year to remove the effects of inflation, allowing for comparison across different years.

Real GDP Is Calculated Using