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by JumpCrisscross
489 days ago
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> GDP is just more people spending more money for more expensive things. It's kind of a failed metric for economic productivity It's a good metric for a tax base. > unless you think an $8 Big Mac is twice as productive to the economy than a $4 Big Mac Which is why we consider both nominal and real GDP. (In your example, the former represents 2x nominal GDP. They're equivalent in terms of real GDP.) |
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