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There, you can obtain the available data on GDP and its components.
a. What is the value of nominal GDP during the past 5 years?
b. What is the GDP deflator in 2006?
c. What was the value of real GDP in 2006?
d. By how much has real GDP changed over the past 5 years? Express as percentage.
e. Did real GDP increase or decrease? and what does the change tell you about the state of the economy over the past 3 years?
a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That
What is mean by stabilization policy? Taming the Business Cycle: To decrease the severity of recessions policy efforts undertaken are termed as stabilization policy. a
Question: Extract of the Speech by Mr Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, at the Swiss Banking Global Symposium, Zurich, 16 November 2012
Assume that there are two types of consumers (in equal numbers). They have the following two inverse demand functions (coming from zero-income effect demand functions): Type A : p
1. Why does the quantity of salt demanded tend to be unresponsive to changes in its price?
What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
What is the success effectiveness of World Trade Organisation in the promotion of development? Success effectiveness of World Trade Organisation in the promotion of developmen
Flexible exchange rate system: A country is linked to other countries through two broad channels: trade flows andfinancial flows. Trade flows pertain to movement of goods and
Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab
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