Question
a)Briefly differentiate between nominal and real GDP.Why is real GDP more relevant measure of economic growth compared to nominal GDP? b) What is the difference
a)Briefly differentiate between nominal and real GDP.Why is real GDP more relevant measure of economic growth compared to nominal GDP?
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 each answer .
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The Macro Economy Today
Authors: Bradley R. Schiller, Karen Gebhardt
14th edition
1259291820, 978-1259291821
