Resume Assignment
February 14, 2021
KM Strategies and Cyber Security; Protecting Your Integrated Knowledge Management Cycle
February 14, 2021

Nominal and Real GDP

Assignment can be started and draft saved to finish and submit later in the Text Submission box. Or, a Word document attachment uploaded when ready to submit. Do not submit your answer in the Comment box.Use your own words. Do not copy/paste your homework. Assignment will be checked for plagiarism.

Read pages 557, 559, and 560 in Chapter 25 in your textbook (20th edition). Watch videos in links below

Nominal versus Real GDP

GDP Deflator

Answer all three components below.

1) Contrast the ideas of nominal GDP and real GDP.

2) Why is one more reliable than the other for comparing changes in the standard of living over several years?

3) What is the GDP price index and what is its role in differentiating nominal GDP and real GDP?

DUE: January 21 (midnight)

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