Which of the following does the level of real GDP measure?
A) total real income
B) productivity
C) the standard of living
D) All of the above are correct.

Question

Quizplus · Accepted Answer

Real GDP measures the total value of all final goods and services produced within a country's borders, adjusted for inflation. This gives us an estimate of the total income generated by the economy in a given year. Real GDP does not directly measure productivity or the standard of living, but it can be used as an indicator of both.

Which of the Following Does the Level of Real GDP