Question
a)Briefly differentiate between nominal and real GDP.Why is real GDP more relevant measure of economic growth compared to nominal GDP? (one fifty words) b) What
a)Briefly differentiate between nominal and real GDP.Why is real GDP more relevant measure of economic growth compared to nominal GDP?
(one fifty words)
b) What is the difference between intermediate and final goods? Why is the distinction between intermediate and final goods important for measuring GDP?
(one fifty words).
answer will be in own wording
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
