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11 August, 21:40

What is the difference between real GDP and nominal GDP?

Real GDP is based on constant prices; nominal GDP is based on the current year's prices.

Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars.

Real GDP includes nonmarket activities; nominal GDP has no nonmarket activities

Real GDP allows for depreciation; nominal GDP allows for no depreciation.

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Answers (2)
  1. 11 August, 23:29
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    Answer: Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars.

    Explanation: Trust Me
  2. 11 August, 23:48
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    Answer: B

    Explanation:

    Just took the test
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Home » History » What is the difference between real GDP and nominal GDP? Real GDP is based on constant prices; nominal GDP is based on the current year's prices. Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars.
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