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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.
What is the price elasticity of supply? Price elasticity of supply: The price elasticity of supply is a measure of the receptiveness of the quantity of a good supplied to pr
provide data and analysis for the real GDP (as total and per capita) and its growth rate then draw a graph and identify the periods of the Malaysia’s business cycle 2007 -2011
A major component of the costs of many large firms is the cost associated with ordering and holding inventory. If the yearly demand for the good is D and the size of each order p
The following is the information from the national income accounts for a hypothetical country: GNP Rs. 5000.00
Define the points of individual choices makes and interact. A. How individuals make choices: • Scarcity • Opportunity cost • Trade-offs • Marginal analysis B. Ho
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You are considering three design alternatives for treating a pollutant in wastewater using a first-order process ( k = 1 min -1 ). The total flow is 10 million gallons per day (mg
Q. Explain about Penicillic Acid? This mycotoxin has biological properties similar to patulin. It is produced by a large number of fungi, including many Penicillia as well as m
Employ the weights given below and suppose that 2002 is the base year with a CPI equal to 100. Suppose also that since 2002 the price of food has increased by 10 percent; the price
Determine the principle of equity The principle of equity is that a tax must be fair and the tax is levied on those with the ability to pay tax. The principle of efficiency
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