The inflation-adjusted measure of aggregate output typically used by economists is called:
A)aggregated output.
B)nominal gross national product.
C)net domestic product.
D)real gross domestic product.
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Economists use Gross Domestic Product (GDP) to measure the economic activity and the national income.
What are the major components of the USA GDP? Explain the contribution of each component to the GDP with data.
What is the difference between real Gross Domestic Product (GDP) and nominal GDP? What is the relationship between the real GDP and the business cycle?
