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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Introduction: Pesticides are frequently used in agriculture. There are agrochemicals used plants and humans to protect from various disease. Also, we cannot ignore its impact on environment and human...

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We have indeed come to an end and one major problem in today’s world is environmental issue and climate change. It is a contemporary issue and need urgent attention. Whatever technologies developed it...

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Macroeconomic-201-Discussion (1)

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Q Discuss the difference between real GDP and nominal GDP, which is used by economists to measure economic well-being and why. Why is a large GDP a good thing? Give an example of something that would raise GDP but would be considered undesirable and explain.

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GDP (Gross Domestic Product) is a macroeconomic indicator used to measure the economic health of a country. The GDP can be classified into two parts, real GDP and nominal GDP. The main difference between real GDP and nominal GDP is that the real GDP is adjusted with the inflation, but the nominal GDP is not. The inflation rate is the measure of the change in the price level with the changing time. In general, nominal GDP has a higher value than the real GDP due to the inclusion of the inflation rate.