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3 Cards in this Set
- Front
- Back
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Consumer Price Index
CPI |
a cost of living index that measures the total cost of goods and services purchased by a typical consumer within a country
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Nominal GDP
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the sum value of goods and services produced in a country and valued at current prices
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Real GDP
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the sum value of goods and services produced in a country and valued at constant prices calibrated from some base year. Real GDP frees year-to-year comparisons of output from the effects of changes in the price level.
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