Essentials of Economics
Essentials of Economics
4th Edition
ISBN: 9781464186653
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Chapter 13, Problem 4P
To determine

To determine: Why the real GDP is greater than nominal GDP for all years until 2000 and lower for 2010.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all finished goods and services produced by resident and non-resident people of a country that is within the borders of that particular country in an accounting year.

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