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1. Contrast the ideas of nominal and real GDP. Why is one more reliable than the other for comparing changes in the standard of living over a series of years? Compare 1980 and 2020, using one of the methods I’ve explained below. Which do you think would b

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1. Contrast the ideas of nominal and real GDP. Why is one more reliable than the other for comparing changes in the standard of living over a series of years? Compare 1980 and 2020, using one of the methods I’ve explained below. Which do you think would b
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