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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).
The recent flooding in the upper Midwest destroyed a important proportion of the corn crop. Though, it has been discovered that corn oil is far better in keeping cholesterol withi
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International Comparisons Method In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, Sout
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Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
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