What is GDP? and what is different between Norminal GDP and Real GDP?
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what is GDP? and what is different between Norminal GDP and Real GDP
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Answer:
GDP = Gross domestic product, it is all the goods and services produced by a nation within a specific amount time period nominal GDP = GDP not adjusted for inflation real GDP = GDP adjusted for inflation, it is a more accurate figure you also need to know the difference between GDP and GNP
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