Real national output
What Real national output means in Economics A-Level, as defined for AQA.
Definitions of Real national output
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Reference: AQA
The axis labelled as 'Real GDP' or 'Real National Output' on macroeconomic diagrams, showing the quantity of real GDP demanded.
The output of an economy over time, adjusted so that inflation has been accounted for when discussing growth trends.
Topics that use Real national output
- Aggregate demand and aggregate supply analysis (AQA A-Level)
- Economic growth and the economic cycle (AQA A-Level)
Related terms
- Aggregate demand
- Aggregate supply
- Macroeconomic performance
- Negative output gap
- Productive capacity
- Aggregate demand components
- Asset price bubbles
- Costs of production
Using Real national output in the exam
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