Explain nominal gdp, Microeconomics

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).

Posted Date: 8/26/2013 3:55:32 AM | Location : United States







Related Discussions:- Explain nominal gdp, Assignment Help, Ask Question on Explain nominal gdp, Get Answer, Expert's Help, Explain nominal gdp Discussions

Write discussion on Explain nominal gdp
Your posts are moderated
Related Questions
#quesExamine the expenditure trends over the last 40 years. What are the direction and magnitude of changes in spending in and between these various categories (with the exception

i want an application on indifference curve of a specific firm? can i get it easily?

What is corporate governance? Why is it important for board of directors to ensure good corporate governance within a company? Students need to define corporate governance concisel

What are the differentiated conditions of economic issue? While discussing an economic issue, this is very important to differentiate between: (a) Two types of conditions: e



How does a per unit tax affect consumer surplus.

Consider a hypothetical nation, Solowland, which were in the steady state. We consider a constant return to scale production function based on two production factors, labor and cap

Illustrate the content in the rational consumer? Content in the rational consumer: a. How to spend income onto goods and services? b. Why maximizing usefulness? c. Wh

Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica