Nominal gdp vs real gdp Study guides, Class notes & Summaries
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Macro Topic 2.6 Real v. Nominal GDP_Quiz | Real_vs_Nominal_GDP_2022
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Real vs Nominal GDP 
 
 
Macro Topic 2.6 
Real v. Nominal GDP 
Part 1: Check Your Understanding- Answer the questions. 
1. If your nominal wage increases by 25%, will you definitely have a 25% increase in purchasing power? Why or why not? 
2. If your nominal wage rises from $10 to $12 while the CPI rises from 150 to 180 will your real wage increase, decrease, or stay the same? Explain. 
3. If nominal GDP increased by 20% and inflation increased by 10%, did the real GDP increase, decrease, or...
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WGU C211 - Global Economics for Managers Part II Reviews Rated 100
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WGU C211 - Global Economics for 
Managers Part II Reviews Rated 100% 
Explain the New, Evolutionary, and Pendulum views of Globalization. How do these differ from 
one another? *** "New" view on globalization - A force sweeping through the world in recent 
times. 
"Evolutionary" view on globalization - A long-run historical evolution since the dawn of human 
history. 
"Pendulum" view on globalization - One that swings from one extreme to another from time to 
time 
**What different politic...
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Summary Study Outline for Econ S10b Midterm Exam Harvard University, Summer School
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Study Outline for Econ S10b Midterm Exam Harvard University, Summer School 
 
Note: The assigned readings are potential sources for exam questions. I will NOT ask narrow factual questions about these readings, but you should be able to relate their main arguments to the material we have discussed in class. 
 
Note: The following outline does NOT cover everything we have studied in the class. All concepts and applications that we have discussed in class are possible exam topics. 
Good items to st...
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Summary Study Outline for Econ S10b Midterm Exam Harvard University, Summer School
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Study Outline for Econ S10b Midterm Exam Harvard University, Summer School 
 
Note: The assigned readings are potential sources for exam questions. I will NOT ask narrow factual questions about these readings, but you should be able to relate their main arguments to the material we have discussed in class. 
 
Note: The following outline does NOT cover everything we have studied in the class. All concepts and applications that we have discussed in class are possible exam topics. 
Good items to st...
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GDP-Production and Growth
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What is GDP? 
Measure of aggregate output? 
Nomial Vs Real GDP? 
Two Approaches to GDP? 
Shortcomings of GDP? 
Composition and distribution of 
the output? 
Noneconomic sources of 
well-being? 
GDP Per Capita Meaning? 
Production and growth ppt 
Economic Growth
And that's how you make extra money
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bloomberg market concepts Questions and Verified Answers | Passed | A+bloomberg market concepts Questions and Verified Answers | Passed | A+
- Exam (elaborations) • 39 pages • 2024
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gross domestic product (GDP) 
: market value of all final goods and services produced within a country 
GDP = C + I + G + (X-M) 
C= personal consumption 
I = private investment 
G = government spending 
X = exports 
M = imports 
(C = 2/3 of US GDP) 
provides backdrop for investing bc is a measure of all economic activity 
"actual GDP growth has entirely lost its capacity to surprise... leading indicators... PMI 
garners disproportionate attention" 
2 
nominal GDP vs real GDP 
: nominal GDP...
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS 
What are the broad issues that macroeconomists study and the types of data they use and interpret? - CORRECT ANSWER -Macroeconomists study the performance of the national economy as well as the policies used to improve that performance as well as the aggregate impact of individual decisions. They study changes in economic output (GDP), inflation (CPI), interest and foreign exchange rates, and the balance of payments. Poverty reduction, social e...
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS 
What are the broad issues that macroeconomists study and the types of data they use and interpret? - CORRECT ANSWER -Macroeconomists study the performance of the national economy as well as the policies used to improve that performance as well as the aggregate impact of individual decisions. They study changes in economic output (GDP), inflation (CPI), interest and foreign exchange rates, and the balance of payments. Poverty reduction, social e...
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS
- Exam (elaborations) • 20 pages • 2024
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- $12.49
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS 
What are the broad issues that macroeconomists study and the types of data they use and interpret? - CORRECT ANSWER -Macroeconomists study the performance of the national economy as well as the policies used to improve that performance as well as the aggregate impact of individual decisions. They study changes in economic output (GDP), inflation (CPI), interest and foreign exchange rates, and the balance of payments. Poverty reduction, social e...
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Econ 401 Certification Exam Questions and CORRECT Answers
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business cycleAlternating periods of economic expansion and economic recession 
(components trough recession peak recovery- a business cycle is the cycle of the economy 
which includes recessions, troughs, recoverys, and peaks.) 
Real vs. Nominal GDPreal GDP is GDP adjusted for inflation, while nominal GDP is 
just nominal and is not adjusted for inflation. Total final value of goods and services 
produced in a year (Gross Domestic Product) 
SeasonalityA repeated pattern of spikes or drops i...
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