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Discuss the difference between real GDP and nominal GDP, which is used by economists to measure economic well-being and why. Why is a large GDP a good thing?
Give an example of something that would raise GDP but would be considered undesirable and explain.
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This work is done in Microsoft word document is about the real GDP and nominal GDP and it describes the vulnerability of the economists to measure economic well-being.This document was prepared in the MS word is all about how to distinguish along with describing the GDP and relevance to it.
What are the main goods and services the United States traded internationally? What trade barriers were in place during that decade?
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