You are hired as an economist to find out if the Gross Domestic Product (GDP) in 2011 was more than the GDP in 2010. In 1 or 2 sentences, explain which measurement you would use: nominal GDP or real GDP.

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Social Studies

Katie Meyer

3 April, 18:46

You are hired as an economist to find out if the Gross Domestic Product (GDP) in 2011 was more than the GDP in 2010. In 1 or 2 sentences, explain which measurement you would use: nominal GDP or real GDP.

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Frank Mays · Answer 1

I would use Real GDP since it is used to measure inflation or changes in price levels providing an accurate figure of economic growth over a specific period of time.