First,define Nominal GDP and Real GDP

question 8

Essay

First,define nominal GDP and real GDP.Second,is it possible for nominal GDP in a year to be less than real GDP in the same year? Explain.

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Definitions:

Odds

A ratio expressing the likelihood of a particular outcome versus the likelihood of not achieving that outcome.

Mammogram

An X-ray image of the breast used to detect and diagnose breast cancer.

Multiple Logistic Regression

A statistical method used to model the relationship between a dichotomous dependent variable and two or more independent variables.

Recent Mammogram

A recent x-ray examination of the breast used to detect and diagnose breast disease.