The nominal GDP is greater than the real GDP because nominal GDP has not been adjusted for inflation while the real GDP has been adjusted for inflation
The nominal GDP is greater than the real GDP because nominal GDP has not been adjusted
for inflation while the real GDP has been adjusted for inflation, therefore, having a lower value.
Nominal GDP is the output of the economy that has not accounted for inflation while real GDP
is the output of the economy that has taken into account inflation therefore, attracting a lower
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