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What is the difference between nominal GDP and real GDP ? A . Nominal GDP is the total value of output produced while real GDP
What is the difference between nominal GDP and real GDP
A Nominal GDP is the total value of output produced while real GDP is the amount per individual.
B Nominal GDP represents purchasing power while real GDP is measured in terms of current dollars.
c Nominal GDP is measured in current market prices while real GDP corrects for changes in the overall level of prices from year to year.
D Nominal GDP is computed by using the expenditure approach while real GDP is computed by using the income approach.
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