Examlex
The difference between the sample mean and the population mean is called the sampling error.
Nominal GDP
The gross domestic product measured in current prices without adjusting for inflation.
Real GDP
The calculation of a nation's economic production after accounting for changes in prices, such as inflation or deflation, which shows the actual value of the products and services generated.
Nominal GDP
The gross domestic product measured in current prices, without adjusting for inflation, representing the value of all goods and services produced within a country's borders in a specific time period.
Real GDP
The measure of a nation's gross domestic product adjusted for inflation, showing the value of goods and services produced in real terms.
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