A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called:?

Question

A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called:

A. real GDP.

B. nominal GDP.

C. base GDP.

D. current GDP.

E. production GDP.

Answer 1

A. real GDP. - is right answer.

Answer 2

production GDP

Answer 3

in purely economic terms it is called real GDP, because it excludes the effect of inflation that makes it overstated and nominal. it actually measures the increment in quantity of goods and services rather than increase in prices... i think its enough..