U.S. real GDP
A)is not as accurate as nominal GDP when measuring standard of living changes over time.
B)precisely measures the improving standard of living in the United States.
C)measures the change in the price level over time.
D)includes the value of underground production but excludes the value of leisure time.
E)excludes the value of underground production and leisure time.

Question

Quizplus · Accepted Answer

Real GDP excludes the value of underground production and leisure time, focusing on the value of goods and services produced in the economy, adjusted for inflation.

U.S. Real GDP