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    Macroeconomics Study Set 17
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    Exam 8: GDP: Measuring Total Production and Income
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    Since Real GDP Is Adjusted for Inflation and Nominal GDP
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Since Real GDP Is Adjusted for Inflation and Nominal GDP

Question 56

Question 56

Essay

Since real GDP is adjusted for inflation and nominal GDP is not,nominal GDP must always be higher than real GDP.Do you agree or disagree? Why?

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Disagree.It depends on whether the year ...

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