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  1. Real and
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Nominal vs. Real GDP
7:41
YouTubeMarginal Revolution University
Nominal vs. Real GDP
"Are you better off today than you were 4 years ago? What about 40 years ago?" These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not? To those questions, there’s one figure that can shed at least a partial light: real ...
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