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Macroeconomists Distinguish Between Nominal and Real values of Variables Assignment | Custom Assignment Help

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How do macroeconomists distinguish between nominal and real values of variables? Does nominal or real GDP give abetter picture of changes in economic activity and economic well-being? Why? Suppose the nominal GDP of Italy increased by 1% between 2011 and 2012. Is this information sufficient to conclude that the economy grew in that period of time? Given that the inflation rate was 3%, what can …

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