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The GDP is the total market value of all final goods and services purchased in the U.S. in a given period of time (usually given in annual or quarterly periods). There are two measures of GDP. The first is nominal GDP. This is GDP before it has been adjusted for inflation. The second is real GDP. Real GDP is better indicator of how the economy is doing because it has been adjusted for inflation. This is important because this adjustment allows GDP figures from one year to be compared to those from the next. Real GDP is an important indicator to keep track of because it provides very broad information as well as very detailed information...
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Common topics in this essay:
- The Money
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