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Real Gross Domestic Product - Annual
The price-adjusted measure of
the value of all final goods
and services produced in the
United States in a given
year. Real GDP is measured in
billions of chained 2005
dollars. The Bureau of
Economic Analysis uses a
chain aggregation
(continuously updated price
weights) approach instead of
a fixed-weight price approach
used to calculate the growth
rate of real output. The BEA
arbitrarily chose 2005 as the
base year used to equate real
chain aggregates and nominal
output, which has no effect
on the measure of the growth
rate of real output.
Source: Bureau of Economic Analysis
Measured: Annually
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