question archive Discussion Board Discuss the difference between real GDP and nominal GDP, which is used by economists to measure economic well-being and why

Discussion Board Discuss the difference between real GDP and nominal GDP, which is used by economists to measure economic well-being and why

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  1. Discussion Board

Discuss the difference between real GDP and nominal GDP, which is used by economists to measure economic well-being and why.  Why is a large GDP a good thing?  Give an example of something that would raise GDP but would be considered undesirable and explain.

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