Answer :
Final answer:
Real GDP measures economic growth and reflects the total value of goods and services in an economy. It helps gauge economic performance and indicates whether an economy is expanding or contracting. Therefore, the statement regarding Real GDP is true.
Explanation:
Understanding Real GDP and Economic Growth
Real GDP, or Gross Domestic Product adjusted for inflation, is indeed used to measure the macroeconomic goal of economic growth. It represents the total value of all goods and services produced in a country during a specific time period, adjusted to reflect changes in price levels.
When analysts assess a country's economic performance, they often look at the growth rate of Real GDP over time, which indicates whether an economy is expanding or contracting. For example, if a country has a Real GDP growth rate of 3% annually, it suggests that the economy is growing, leading to increased production, job creation, and potentially higher living standards.
In summary, when evaluating economic performance, Real GDP serves as a crucial indicator of economic health and growth. Therefore, the statement in question is True.
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