Discussion 1/Week 1 Economic Problems & Issues

“Nominal versus Real Calculations”

· ; ; ; ; ; ; ; ; ;Analyze the nominal and real concepts, and apply these concepts to Gross Domestic Product (GDP). Determine the elements that affect the reporting of the GDP.

· ; ; ; ; ; ; ; ; ;Compare and contrast the reporting of GDP in nominal versus real terms. Explain how changing the reporting method could be deceiving when reporting the output per capita using dollar terms.

***This is a discussion, not a paper. NO plagiarism please.**