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Frequently Asked Questions

Why has nominal GDP increased faster than real GDP?

Real GDP, on the other hand, is the measure of productivity corrected for inflation. A value of more than 100 represents inflation, while a value of less than 100 refers to deflation (fall in prices) in the economy. Because of inflation in the US economy over time, nominal GDP has risen faster than the real GDP.

Can nominal GDP ever be less than real GDP?

Nominal differs from real GDP in that it includes changes in prices due to inflation, which reflects the rate of price increases in an economy. Can nominal GDP ever be less than real GDP? YES, it is possible that in the same year, nominal GDP is less than real GDP. What is the difference between real GDP and nominal GDP quizlet?

Why was the nominal GDP greater than the real GDP?

The reason why the Nominal GDP appears higher than the Real GDP is that the Real GDP is adjusted for inflation, which reduces the total amount. Additionally, the Nominal GDP is higher due to the...

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