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What is Mankiw Taylor PPT002 about?

Gross Domestic Product (gdp) real vs nominal the Consumer Price Index (cpi) the Unemployment Rate. Real GDP controls for inflation changes in Nominal GDP can be due to: changes in prices changes in quantities of output produced changes in Real GDP can only be due to changes in quantities, because Real GDP is constructed using constant base-year prices.

Author

Jan Kranenkamp

Language

EN