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Explain How the Difference Between Nominal and Real Gross Domestic

question 159

Essay

Explain how the difference between nominal and real gross domestic product (GDP)arises,and draw a graph to illustrate the difference between them.


Definitions:

Fibroblasts Migration

The movement of fibroblasts, a type of cell that synthesizes the extracellular matrix and collagen, towards the site of tissue injury for healing.

Inflammatory Response

The body's defense mechanism against infection or injury, resulting in redness, heat, swelling, and pain.

Scab Formation

The process of forming a scab, where blood clots and dries on a wound to protect it from infection and facilitate healing.

Atherosclerosis

A condition characterized by the hardening and narrowing of the arteries due to the buildup of plaque on artery walls, which can lead to cardiovascular diseases.

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