Question
An economy produces final goods and services with a market value of $1650 billion in a given year, but only $1580 billion worth of goods
An economy produces final goods and services with a market value of $1650 billion in a given year, but only $1580 billion worth of goods and services is sold to domestic and foreign buyers. What is the nation' GDP? Explain your answer. Justify using changes in real GDP rather than changes in nominal GDP in measuring the growth of an economy over time
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
