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Macroeconomics

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Prepare a two- to three-page analysis by answering the questions below. Be sure to cite your references using APA format.

What is nominal GDP? What is real GDP? What is included in each? Why are these measures important? What do they tell us? What was GDP for the last two years? Use the data at the following Web site to answer this question, as well as the information in your text:

http://www.bea.gov/national/index.htm#gd

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Macroeconomics

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nominal GDP is the GDP of a country that has not been adjusted for inflation. Real GDP is the GDP that is adjusted for inflation. If you have an economy which produces 100 apples in one year and the price of apple is $2/apple; next year, the economy still produces 100 apples and the price of apples went up to $3/apple. In this case, the ...

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