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Explain the importance of real gross domestic product. How can price changes affect nominal gross domestic product?Explain. Explain four (4) reasons why real gross domestic

  1. Explain the importance of real gross domestic product.

  1. How can price changes affect nominal gross domestic product?Explain.

  1. Explain four (4) reasons why real gross domestic product is not an accurate measure of the welfare of a nation.

  1. Explain two (2) variables, other than GDP, that can more accurately measure the welfare of a nation.

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