Discussion - difference between real GDP and nominal GDP

Reference no: EM132374575 , Length: word count:500

Macroeconomics Assignment - GDP

Please start with a strong opening discussion of 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; what does it do for the economy and the society?

Give an example of something that would raise GDP but would be considered undesirable and explain. Also include graphs for visual easy to understand, and how is it calculated.

Be sure to use economics terms and concepts in all that you write.

Always footnote your research and at least 3 references.

Reference no: EM132374575

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