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Nominal versus Real GDP

This video outlines the difference between Nominal GDP (Gross Domestic Product) and Real GDP and explains how to calculate the levels and growth rates for each. For more information and a complete listing of videos by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/ For t-shirts and other merch, see http://www.economistsdoitwithmodels.com/merch/ By Economists Do It With Models
Length: 11:25

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