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Discuss the reasons for the emergence of a fad.
Inflation
The rate of elevation in the uniform prices of goods and services, undermining the capability to buy more.
GDP Deflator
An economic metric that converts output measured at current prices into constant-dollar GDP, detaching price changes from real output changes.
Nominal GDP
Gross Domestic Product measured in current market prices, without adjustment for inflation, reflecting the value of all goods and services produced by an economy in a year.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced within a country in real terms.
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