Consider the following statements about real GDP:1. It is calculated in such a way that the goods and services are evaluated at some constant set of prices2. It is calculated in such a way that the goods and services are evaluated at current prices3. An increase in the value of real GDP indicates an increase in the volume of production4. An increase in the value of real GDP indicates an increase in the prices of goods and services - Study24x7
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Consider the following statements about real GDP:
1. It is calculated in such a way that the goods and services are ev...

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A

1 and 3 only

B

2 and 4 only

C

1 only

D

2 only

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