ECO327 Real GDP v. Nominal GDP: What's the difference?

timer Asked: Sep 5th, 2013

Question Description

I’m studying for my Business class and need an explanation.

 Week 1, DQ5: Real GDP v. Nominal GDP: What's the difference?

What is the difference between real and nominal GDP? Use the Commerce Department's Bureau of Economic Analysis,, to locate the most up-to-date figures for (1) current real GDP and (2) current nominal GDP.

Does GDP accurately reflect our nation’s productivity? Why or why not?

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