Question

which is better for making comparison over time, nominal GDP or real GDP and why?

which is better for making comparison over time, nominal GDP or real GDP and why?
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Explain the difference between nominal and real GDP. Which of the two is a better measure...
Explain the difference between nominal and real GDP. Which of the two is a better measure of economic growth? Why?
Contrast the ideas of nominal and real GDP. Why is one more reliable than the other...
Contrast the ideas of nominal and real GDP. Why is one more reliable than the other for comparing changes in the standard of living over a series of years? Use the concept of real and nominal GDP to compare the years 1980 and 2017. Which year was a better year for the economy and why
Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for assessing...
Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for assessing changes in an economy’s production over time.                                                                                                                         Explain why a chain-weighted                measure of real GDP is preferred to the traditional fixed-weighted measure of real GDP.
Explain the difference between nominal and real GDP and why real GDP is necessary to compare...
Explain the difference between nominal and real GDP and why real GDP is necessary to compare prior years’ data.
Why do economists prefer real GDP to nominal GDP when measuring the size of an economy?...
Why do economists prefer real GDP to nominal GDP when measuring the size of an economy? Question 8 options: When an economy experiences inflation, its nominal GDP tends to overvalue an actual change in the quantity of goods and serviced produced. Real GDP rises for two reasons: an increase in output and an increase in prices. When an economy experiences inflation, its real GDP is greater than its nominal GDP. Nominal GDP is GDP adjusted for inflation.
If there is inflation, Group of answer choices nominal GDP and real GDP decrease at the...
If there is inflation, Group of answer choices nominal GDP and real GDP decrease at the same rate nominal GDP increases slower than real GDP nominal GDP increases faster than real GDP nominal GDP and real GDP increase at the same rate
The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions...
The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2005 dollars), and population (in thousands) of the United States in 1960, 1970, 1980, 1990, 2000, and 2010. The U.S. price level rose consistently over the period 1960–2010. Year Nominal GDP (billions of dollars) Real GDP (billions of 2005 dollars) Population (thousands) 1960 $526.4 $2,828.5 180,760 1970 1,038.5 4,266.3 205,089 1980 2,788.1 5,834.0 227,726 1990 5,800.5 8,027.1 250,181 2000 9,951.5 11,216.4 282,418 2010...
1) a) What is the definition of nominal GDP ? b) What is the definition of...
1) a) What is the definition of nominal GDP ? b) What is the definition of real GDP ? c) Between nominal GDP and real GDP which one is better ?
10b）Why do we need to calculate Real GDP? If Real GDP is so important, why do...
10b）Why do we need to calculate Real GDP? If Real GDP is so important, why do we care about Nominal GDP? Should we stop reporting Nominal GDP?
GDP: Group of answer choices real GDP is calculated by multiplying nominal GDP by the GDP...
GDP: Group of answer choices real GDP is calculated by multiplying nominal GDP by the GDP deflator real GDP is adjusted for changes in the price level nominal GDP can only change if there is a change in prices real GDP is GDP per person
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT