Contrast the ideas of nominal gdp and real gdp why is one, Business Economics

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Contrast the ideas of nominal gdp and real gdp why is one

Contrast the ideas of nominal GDP and real GDP. Why is one more reliable than the other for comparing changes in the standard of living over a series of years? Apply the concept of a price index to comparing the rise and fall of gas prices over a several years. How have you looked at changes in gas prices in the past, in a nominal or a real manner?

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Business Economics: Contrast the ideas of nominal gdp and real gdp why is one

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