Solved: Describe measurement of gdp of purchasing power, Microeconomics

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Describe measurement of gdp of purchasing power

Assignment:

1. Describe which measurement of GDP (nominal or real) is a better measure of purchasing power and why. Why do you think we should measure real GDP?

2. In your opinion, is real GDP an accurate measurement of economic well-being? Why or why not?

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Microeconomics: Describe measurement of gdp of purchasing power

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