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Q. Explain Nominal GDP?
Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, evaluated at their current money prices. Nominal GDP can grow from one period to the next due to an increase in actual (real) output or/and due to an increase in average prices (which is, as a result of inflation).
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COST-OF-LIVING INDEXES * The CPI is computed each year as the ratio of cost of a typical group of consumer goods and services today in comparison to the cost during a base per
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Case Study - EUROPE Let us now see how events unfolded over the decades in Europe that led to monetary unification in terms of a single currency and single central bank. At
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