Question Real GDP is the same as nominal GDP? If yes, why? If no, why? Discuss Solution No. Real GDp is not same as nominal GDP. Nominal GDP is the gross income or output of the economy. The value is in the current price of the economy. ON the other hand real GDP is prie adjusted nominal GDP. When you deduct price factor or inflation from nominal GDP you get real GDP: Real GDP= Nominal GDP / Inflation or price level.

1. Question:
Research supports a 79% finding; however, of a sample of 300 businesses, what is the
propability that Fewer that 65% agree with the finding:
P= .79, P-hat= .65, and n=300
Z= .65-.79/(sqrt of .79 *(1-.79)/300= -5.9534
I know this answer is not right, where did I mess-up?
Solution
z= (0.65-0.79)/sqrt(0.79*0.21/300) = -5.953
propability that Fewer that 65% agree with the finding = P(z<-5.953) = 0