Nominal gdp in measuring economic growth

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Reference no: EM131675230

What is more important to evaluate, the real or nominal GDP in measuring economic growth?

When looking at the US our GDP Per Capita is $51,000 and China is $3,750. What does this mean about each of the economies and how do you think the US can make that number higher?

What are the limitations of evaluating the GDP?

Reference no: EM131675230

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