Examlex
The final act of Italian unification occurred in 1870 when
Real GDP
measures the value of all final goods and services produced within a country in a given period, adjusted for inflation.
Nominal GDP
The aggregate value of all end products and services created inside a country during a specific time, calculated in present-day prices.
Nominal Cost
The price of a good or service without adjustment for inflation, representing the current market price.
Potential Output
Potential output refers to the total amount of goods and services an economy can produce when it is operating at full capacity and efficiency, without causing inflation.
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