Compare and contrast the reporting of GDP in nominal versus real terms.

Nominal versus Real Calculations” Please respond to the following:

• From Part 2 of the scenario, analyze the nominal and real concepts, and apply these concepts to Gross Domestic Product (GDP). Determine the elements that affect the reporting of the GDP.
• Compare and contrast the reporting of GDP in nominal versus real terms. Explain how changing the reporting method could be deceiving when reporting the output per capita using