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What is the difference between real and nominal gross domestic product (GDP)?

What is the difference between real and nominal gross domestic product (GDP)?
asked 42.5k views
5 votes
What is the difference between real and nominal gross domestic product (GDP)?

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User Mgsloan
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1 Answer

5 votes

Answer:

the difference between real GDP and nominal GDP is that real GDP is a adjustment for inflation since nominal GDP is calculated using current prices

Step-by-step explanation:

answered
User Sergey Bushmanov
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