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Which of the following describes real GDP? a.) Is the best measure of per capita standard of living b.) Shows changes in prices of goods

Which of the following describes real GDP?

  • a.)
  • Is the best measure of per capita standard of living
  • b.)
  • Shows changes in prices of goods based on inflation
  • c.)
  • Considers the nominal prices of goods/services
  • d.)
  • Adjusted for inflation to show growth in output

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