Describe the difference between real gdp and nominal gdp.

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asked May 21, 2022 143k views

1 Answer

Alex Petralia · Answer 1 · 2022-05-26T12:26:05+0000

Step-by-step explanation:

Real GDP takes into consideration adjustments for changes in inflation. ... The main difference between nominal GDP and real GDP is the adjustment for inflation. Since nominal GDP is calculated using current prices, it does not require any adjustments for inflation.

Describe the difference between real gdp and nominal gdp.

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Describe the difference between real gdp and nominal gdp.