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Nominal GDP does not account for the change in prices of goods and services. Will the output be affected? Explain:

Work sheet Q1 – Complete the following statement GDP per capita is the real GDP on a per-person basis, it’s usually calculated using the following formula: GDP = Real GDP divided by Q2 – Compare and contrast savings and disposable personal income: Q3 – Nominal GDP does not account for the change in prices of […]

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