Problem
Suppose that two politicians are running against each other for president. One politician states that GDP declined in the past year. The other politician says his opponent is wrong and that GDP increased in the past year. Is it possible that both of these politicians are being truthful?
Which politician do you think is talking about nominal GDP and which one is referring to real GDP? Why do you think this? What is the difference between nominal and real GDP?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.