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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?
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Aska) 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 c
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characterestic of economics
sources of oligopoly
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