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
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