{"id":380,"date":"2015-05-04T16:01:10","date_gmt":"2015-05-04T16:01:10","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymacro1xngcxmaster\/?post_type=chapter&#038;p=380"},"modified":"2018-04-18T13:33:54","modified_gmt":"2018-04-18T13:33:54","slug":"learning-outcome-nominal-and-real-gdp","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/chapter\/learning-outcome-nominal-and-real-gdp\/","title":{"raw":"Introduction to Nominal and Real GDP","rendered":"Introduction to Nominal and Real GDP"},"content":{"raw":"<h2>What you'll learn to do:\u00a0differentiate between nominal GDP and real GDP<\/h2>\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/06181634\/stock-exchange-911608_1280.jpg\"><img class=\"aligncenter wp-image-7254 \" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/06181634\/stock-exchange-911608_1280-300x212.jpg\" alt=\"\" width=\"569\" height=\"402\" \/><\/a>\r\n\r\nIs the standard of living rising, or does it just appear that way? Is an economy producing (and consuming) more goods and services, or does it just look that way because prices are rising? In this section, you\u00a0will develop a deeper understanding of GDP as\u00a0you learn how it is measured, both including and excluding the effects of inflation.","rendered":"<h2>What you&#8217;ll learn to do:\u00a0differentiate between nominal GDP and real GDP<\/h2>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/06181634\/stock-exchange-911608_1280.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7254\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/06181634\/stock-exchange-911608_1280-300x212.jpg\" alt=\"\" width=\"569\" height=\"402\" \/><\/a><\/p>\n<p>Is the standard of living rising, or does it just appear that way? Is an economy producing (and consuming) more goods and services, or does it just look that way because prices are rising? In this section, you\u00a0will develop a deeper understanding of GDP as\u00a0you learn how it is measured, both including and excluding the effects of inflation.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-380\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Nominal and Real GDP. <strong>Authored by<\/strong>: Steven Greenlaw and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Picture . <strong>Provided by<\/strong>: Pixabay . <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/pixabay.com\/p-911608\/?no_redirect\">https:\/\/pixabay.com\/p-911608\/?no_redirect<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":74,"menu_order":7,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Nominal and Real GDP\",\"author\":\"Steven Greenlaw and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Picture \",\"author\":\"\",\"organization\":\"Pixabay \",\"url\":\"https:\/\/pixabay.com\/p-911608\/?no_redirect\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"4b3a734c-cd66-4afc-bc0b-aa7c29fd74b7","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-380","chapter","type-chapter","status-publish","hentry"],"part":184,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/users\/74"}],"version-history":[{"count":26,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/380\/revisions"}],"predecessor-version":[{"id":10160,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/380\/revisions\/10160"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/parts\/184"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/380\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/media?parent=380"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=380"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/contributor?post=380"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/license?post=380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}