Posted: January 18th, 2022

nominal and real GDP,

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  1. So, what is the difference between nominal and real GDP, and how would you convert nominal GDP into real GDP?
  2. Does GDP accurately reflect our nation’s productivity? Why or why not?
  3. What benefit would you get from this conversion? Also, for the list of things that may not be included in or accurately measured by nominal GDP, can anyone provide any solution for a better accounting of GDP?
    Requirements: 175 words

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