The distinction between real GDP and nominal GDP is important to determine which of the following?...

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The distinction between real GDP and nominal GDP is important to determine which of the following?...

The distinction between real GDP and nominal GDP is important to determine which of the following?

The change in real output produced.

The growth in the government sector.

To measure a real increase in wages,

the wages would have to be adjusted for inflation overtime.

the increase would have to be compared to the growth in GDP.

the changes would have to be averaged.

The change in real GDP per person.

business economics

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Answer 1

Answer #1

1.The change in real output produced

distinction between real GDP and nominal GDP is important to determine the change in real output produced.

2.

the wages would have to be adjusted for inflation overtime.

because with inflation the purchasing power of money variate.

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Answer 2

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The distinction between real GDP and nominal GDP is important to determine which of the following?...

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