due in 4 hours…1page macroeconomics

due in 4 hours…1page macroeconomics


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No plagiarism or previously done work.

When working with GDP data, economists are using the market value of aggregate output in order to facilitate comparisons across years rather than just the amount of output itself (e.g. the value of refridgerators and apples produced rather than the quantities). Why is that–what problem does this address? This solution of using values is not a perfect solution. What new issues arise when we try to compare market values of aggregate output across time periods. How do macroeconomists attempt to address this issue?

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