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What is the difference between gdp and real gdp

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Reference no: EM131549288

Assignment: Essay on Economic

Writing two pages using the below question. The writing style is not supposed to be top notch because I'm an internatinal student, but i want it to explain the questions throughly.

1. Explain the typical dynamics of the Business Cycle in a free market or mixed economic system.

2. How did we define a Recession in class?

3. Why does Inflation prove normal and expected phenomenon in a free market system?

4. In what ways could we potentially double count in terms of GDP metrics?

5. What's the difference between GDP and Real GDP?

6. When a person buys a new home, why does it not fit into the Persona/ Consumption Expenditures category?

7. How can Net Exports deduct from the GDP count? Explain.

8. Why does the problem of discouraged workers prove a social issue?

9. Why does frictional unemployment alwa ys exist?

10. Describe how Full Employment can occur.

Reference no: EM131549288

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