Discussion 1/Week 1 Economic Problems & Issues

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“Nominal versus Real Calculations”

·         Analyze the nominal and real concepts, and apply these concepts to Gross Domestic Product (GDP). Determine the elements that affect the reporting of the GDP.

·         Compare and contrast the reporting of GDP in nominal versus real terms. Explain how changing the reporting method could be deceiving when reporting the output per capita using dollar terms.


***This is a discussion, not a paper. NO plagiarism please.**

 
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