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What Is the Difference Between Real and Nominal GDP

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What is the difference between real and nominal GDP?


Definitions:

Umbilical Cord

A flexible helical structure containing blood vessels that connects the developing organism to the placenta.

Placenta

An organ made up of tissue from both the mother and the fetus that serves as a barrier and filter between their bloodstreams.

Mesoderm

Cells of the inner cell mass of the embryo that give rise to the muscles, the bones, the circulatory system, and the inner layers of the skin.

Inner Cell Mass

A group of cells inside the early embryo that will eventually give rise to the organism's body.

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