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What Are the Two Basic Ways of Deriving Real GDP

question 23

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What are the two basic ways of deriving real GDP from nominal GDP?


Definitions:

Logical Persuasion

The process of influencing someone's beliefs or behaviors through the use of reasoned arguments and factual evidence.

Shoelaces

Strings or cords used for fastening shoes.

Scissors

A hand-operated cutting instrument made of two blades pivoted so that the sharpened edges slide against each other.

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