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  • 15-10-2020
  • Social Studies
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What is the difference between real and nominal GDP?

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sbinsumait06 sbinsumait06
  • 15-10-2020

Answer:

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. This makes comparisons from quarter to quarter and year to year much simpler, though less relevant, to calculate and analyze.

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