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Discuss about real verses nominal gross domestic product.

Real verses Nominal Gross Domestic Product:

Real Gross Domestic Product: the value of the concluding goods and services produced computed by using the prices of some base year.

Nominal Gross Domestic Product: Production valued at recent prices.

Real Gross Domestic Product per capita is a measure of average result per person, but is not by itself a suitable policy goal.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9581466

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