Define and then compare the two components of real GDP

Reference no: EM131835573

Discussion: "The Nature of Real GDP."

Respond to the following:

• Define and then compare the two components of real GDP. Is the cyclical component affected by the trend component? Why or why not?

• Discuss the difference in effect on the growth of real GDP by a permanent change in technology level as compared to a temporary change in the technology level.

Reference no: EM131835573

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