Introduction to principles of macroeconomics/Nominal and real GDP

The importance of distinguishing between nominal and real GDP

Watch this video on Youtube, from Kahn Academy, where the differences between nominal and real GDP are diiscussed

Nominal and real GDP.

Having viewed the video signpost, please share one "take-home message" on WENotes below.

For example:

• My take-home message is ....
• It is important to distinguish between nominal and real GDP because ....