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GDP
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GDP
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1:33
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tutor2u
Nominal and Real GDP I 60 Second Economics
Nominal GDP measures economic output using current market prices, meaning it includes the effects of inflation. Real GDP adjusts for inflation by using constant prices from a base year. While Nominal reflects the "sticker price" of an economy, Real GDP is the true indicator of actual production growth.
2.7K views
1 month ago
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