Question

what do we call gdp that uses constant unchanging prices?

Answer 1

GDP that uses constant unchanging prices is called Real GDP. Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation). This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output

Answer 2

Answer:

Real GPD

Explanation:

GDP is a measure of a country's wealth measurement over a given period of time. GDP at market price is called nominal GDP. GDP at constant prices is called real GDP. Real GDP is the most important way to measure GDP, since it is possible to analyze its variation over time through this methodology. To calculate it, choose a base year, for example 2010, and calculate GDP for all subsequent years according to the prices in 2010. Thus, it is possible to see the actual, deflated GDP evolution. . This is necessary because prices vary, so calculating the change in GDP at nominal price would give artificial value to the change in GDP.