Give an example to describe the difference between Nominal and Real GDP.

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asked Feb 7, 2021 174k views

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Jigzat · Answer 1 · 2021-02-14T12:05:29+0000

Answer:

Nominal GDP is the GDP without the effects of inflation or deflation whereas you can arrive at Real GDP, only after giving effects of inflation or deflation.

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Give an example to describe the difference between Nominal and Real GDP.

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