Question

Real gdp measures:____.
A. current output at current prices.
B. current output at base year prices.
C. base year output at current prices.
D. base year output at current exchange rates.

Answer 1

Real GDP measures current output at base year prices.

Option B.   current output at base year prices.

Real GDP is an indicator of inflation-adjusted gross domestic product. Compare this with nominal GDP. Nominal GDP measures GDP at current prices without adjusting for inflation. Nominal GDP measures output at current prices, while real GDP measures output at fixed prices.

GDP measures the monetary value of final goods and services produced in a country during a specific time period (for example, quarter or year), that is, what the end consumer purchases. It counts all the electricity generated within the country's borders.

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