Discuss about real verses nominal gross domestic product, Macroeconomics

Assignment Help:

Discuss about real verses nominal gross domestic product.

Real verses Nominal Gross Domestic Product:

Real Gross Domestic Product: the value of the concluding goods and services produced computed by using the prices of some base year.

Nominal Gross Domestic Product: Production valued at recent prices.

Real Gross Domestic Product per capita is a measure of average result per person, but is not by itself a suitable policy goal.


Related Discussions:- Discuss about real verses nominal gross domestic product

MR, Question 1: Consider a two-period, two-person pure exchange economy. Ut...

Question 1: Consider a two-period, two-person pure exchange economy. Utility functions and endowments are given as follows. u1(x0; x1) = (x0x1)2 and e1 = (18; 4) u2(x0; x1) = ln x0

Answer for questions, How can we answer in Economic terms this questions: W...

How can we answer in Economic terms this questions: Why should the government consider to increase tax on cigarette

What do you mean by price index, Q. What do you mean by Price index? Be...

Q. What do you mean by Price index? Because we are only interested in percentage change of the price level and not particular value, we can divide every price level by a given

Help, Given the following data for StewieLand, a closed economy in 2012… r...

Given the following data for StewieLand, a closed economy in 2012… real gdp = $20,000 public savings = $1,000 consumption = $11,000 tax revenue collected = $4,000 Solve for

Taxation, what are the purposes of taxation?

what are the purposes of taxation?

Solution, the classical model assumes that consumption depends positively o...

the classical model assumes that consumption depends positively on disposable income. now suppose that consumption also depends on the real interest rate. a) sketch the loanable

Explain fines imposed on violations, In 2001, Puerto Rico enacted a law tha...

In 2001, Puerto Rico enacted a law that requires specific labels on cement sold in Puerto Rico and imposes fines for any violations of these requirements. The law prohibits the sal

Money, nature, development and function of money.

nature, development and function of money.

Multipliers, what is difference b/w dynamic and static multiplier

what is difference b/w dynamic and static multiplier

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd