Psci 1102 midterm quiz - Study guides, Class notes & Summaries

PSCI 1102 Midterm Quiz Questions and Answers All Correct What is the difference between GDP and real GDP? - Answer-GDP tracks the total value of goods and services produced in an economy in a given time period by calculating all their quantities and all their prices. Real GDP tracks the total value of goods and services calculating the quantities but using constant prices. One is adjusted for inflation (real) and one is not Use this figure to explain the difference between poverty and inequ...

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