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Economics - Financial Markets 15 Online
OpenStudy (anonymous):

why do economists use real GDP rather tan nominal GDP to gauge economic well-being?

OpenStudy (nurali):

Economists use real GDP rather than nominal GDP to gauge economic well-being because real GDP is not affected by changes in prices, so it reflects only changes in the amounts being produced. You cannot determine if a rise in nominal GDP has been caused by increased production or higher prices.

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