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Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"?
The BEA made the switch from the constant-dollar method to the chained-dollar method, because the latter has enhanced the accuracy of the GDP growth calculations by yielding one unique estimated growth rate among any two years. With the constant-dollar method, the growth estimate depends on which year is used as the base year.
Development plan: A Development Plan is a document which contains a policy framework and programme of development for a time period for a country. It sets out the general meas
what do we mean by The narrowness of definition of the commodity.
Impact of government legislations on business in india Government in India plays a dominant role in the Indian business activity. It directs and regulates the private business and
Outline the possible negative effects of import-substitution policies. Define and outline import-substitution; focus on reducing domestic reliance on imports by implementing hi
How to prepare an assignment of Monopoly in economics#Minimum 100 words accepted#
"A firm in monopolistic competition maximizes its profit by producing where its price is equal to its marginal cost." Is this statement correct or incorrect? Explain.
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
explain normal profits
How does a
Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
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