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Explain about the nominal Gross domestic product
It isn't very common to use CPI in construction of real GDP. The reason is that CPI measures the price evolution of consumer goods whereas GDP includes investment goods and consumer goods. Rather, it is common to use a GDP deflator as a price index. GDP deflator measures the price evolution of a basket whose composition is close to composition of GDP. Difference between the GDP deflator and the CPI is fairly small however. To avoid confusion, GDP that is not adjusted for inflation is often called nominal GDP.
A grocery store manager would like to have an idea concerning the average amount milk the store sells per day. In a sample of 70 days, the average amount number of gallons sold was
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Example of Indirect Taxes and Subsidies- ACCOUNTING SYSTEM We now permit our government to impose what are called indirect taxes. This category includes sales tax, excise tax,
what is economic integration
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briefly explain with keynesian consumption?
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George has been selling 5,000 T-shirts per month for $8.50. When he increased the price t0 $9.50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is
Q. Explain IS curve with inflation? The IS curve with inflation We can draw IS curve for a given value of π e . As earlier explained, IS curve isn't affected by changes
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