Documents NOMINAL GDP v. REAL GDP. DEFINITIONS Nominal GDP is the market value of all final goods and...

Slide 1 NOMINAL GDP v. REAL GDP Slide 2 DEFINITIONS  Nominal GDP is the market value of all final goods and services produced in a given year. It is calculated as (Price…

Documents NOMINAL GDP v. REAL GDP

NOMINAL GDP v. REAL GDP DEFINITIONS Nominal GDP is the market value of all final goods and services produced in a given year. It is calculated as (Price X Quantity = Nominal…