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Give two advantages and two disadvantages of using intuition in making decisions.
Nominal
Nominal values refer to monetary values or economic statistics not adjusted for inflation, reflecting their face value.
Real Interest Rate
The interest rate corrected for the effects of inflation.
Price Level
A measure of the average prices of goods and services in an economy at a given time period.
Real Wealth
The value of an individual's or entity's assets, taking into account the effects of inflation on purchasing power.
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