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OpenStudy (anonymous):
What is the difference between nominal GDP and real GDP?
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OpenStudy (rina.r):
Gross domestic product is the value of all products and services produced in a country. Nominal gross domestic product is GDP that has not been adjusted for inflation. This term has become more popular recently as some well known economists have argued that the Fed should target a NGDP figure rather than inflation. http://www.ask.com/question/what-is-nominal-gdp
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