What macroeconomic goal is Real GDP used to measure for?

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06-04-2021
Business

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What macroeconomic goal is Real GDP used to measure for?

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Topeadeniran2idn Topeadeniran2idn · Answer 1 · 2021-04-11T03:48:58-04:00

Answer: Economic growth

Explanation:

Some of the macroeconomic goals that we've include economic growth, low inflation, low unemployment, improvement on standard of living, balance of payment equilibrium etc.

Real gross domestic product refers to the measure of the output in an economy with the inflation in the economy taken into consideration and it has been adjusted with respect to the inflation. The real gross domestic product measures the economic growth rate.

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