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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?
What is the capital-output ratio? Capital-output ratio: This ratio (k) is the amount of capital required to produce £1 of Gross Domestic Product generated, every year.
First-in First-out Method (FIFO) A technique of inventory valuation based on the concept that merchandise is sold in the order of its acknowledgment. In other words, if an elec
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What is the failure effectiveness of World Trade Organisation in the promotion of development? Failure effectiveness of World Trade Organisation in the promotion of developmen
Problem 1: (a) Distinguish between the two broad aspects of globalization. (b) Critically analyse the drivers of globalisation. (c) Discuss, with examples, on the advanta
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