Nominal GDP is the market value of goods and services produced in an economy undigested for inflammation. Real GDP is nominal GDP, adjusted to reflect changed in real output. The main difference between nominal GDP in real GDP is the adjustment for implantation since nominal GDP is calculated using current prices it does not require any adjustments for inflation.
<span>Panic of 1873
The economic recession of 1873 diverted the northerners focus to the financial issues impacting the growth of the Second Industrial Revolution and the growing farmer population in the West. Northerners wanted the government to focus on the industrial progress taking place and the growing concerns over political and economic corruption occurring within urban areas. </span>
US embargo on trade--Germany used unrestricted submarine warfare in World War I as a means to cut off trade to and from Great Britain during the war.
Because so much of the US's trade was with Great Britain and they had claimed neutrality, the US was not happy to have their trade interrupted by Germany. The continued unrestricted submarine warfare led to the US stopping trade with Germany. This gave Germany more reason to be hostile toward the US and when they decided to continue despite embargoes and warnings, they sought the alliance of Mexico in what Germany thought would be eventual war with the US. <span />
