i. What is the difference between nominal GDP and real GDP? Which one of them is used to calculate the economic growth rate? Justify your answer.
i. What is the difference between nominal GDP and real GDP? Which one of them is used to calculate the economic growth rate? Justify your answer.
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 2P
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9. Answer the following
i. What is the difference between nominal GDP and real GDP? Which one of them is used to
calculate the
ii. Give the equation used to calculate the
unemployment. In your opinion, which type is the most problematic one? Justify your answer.
iii. Governments may achieve certain economic goals; say controlling inflation or boosting
economic growth, by implementing fiscal and/or
difference between fiscal and monetary policies
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