The answer is real GDP.
Real GDP per hour worked increases at a decreasing rate. A measure of a country's gross domestic product that has been adjusted for inflation is called Real GDP.
What is GDP?
- GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate.
- The monetary value of all finished goods and services made within a country during a specific time is known as GDP.
- GDP can be calculated in three methods using production, expenditures, or incomes. It can be adjusted for inflation and population to provider deeper insights.
- Real GDP takes account the effects of inflation while nominal GDP does not. GDP is a prominent tool to guide policymakers, investors and business in strategic decision making.
To learn more about GDP
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