Changes in nominal gdp or in real gdp

Reference no: EM131023473

According to an article in the Economist, the Russian economy "may not have been booming by 7% a year, as in the mid-2000s, but GDP grew by 3.6% in 2012." Are these two percentages referring to changes in nominal GDP or in real GDP? Briefly explain.

Reference no: EM131023473

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