2 DQ Questions
vicie.100 + words please.. NEED ANSWER WITHIN 2 HOURS
Question 1:
One is to convert the actually a nominal GDP number to a real GDP number. The other is to convert a nominal GDP growth rate to a real GDP growth rate. One is done by division and the other by subtraction. Can anyone explain which is which and why?
Question 2:
how would you convert nominal GDP into real GDP? What benefit would you get from this conversion? Also, for the list of things that may not be included in or accurately measured by nominal GDP, can anyone provide any solution for a better accounting of GDP?
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