Real gdp is but nominal gdp is not.
a) total output
b) adjusted for price changes
c) total income

The correct answer is option B. Real GDP is adjusted for price changes where nominal GDP is not.

Explanation:

Real GDP is the measure of prices prices both in inflation and deflation. It includes the real prices and calculates real growth in a county while keeping the base year same.

Nominal GDP is when GDP is calculated for every year, when prices are being adjusted for each year. Nominal GDP is calculated at current prices. It gives a faux idea of the GDP, whereas, real GDP tells how much inflation or deflation has occurred.

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