Calculate real gdp using the chained-dollar method, Microeconomics

Assignment Help:

Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"?

The BEA made the switch from the constant-dollar method to the chained-dollar method, because the latter has enhanced the accuracy of the GDP growth calculations by yielding one unique estimated growth rate among any two years.  With the constant-dollar method, the growth estimate depends on which year is used as the base year.   

 


Related Discussions:- Calculate real gdp using the chained-dollar method

Economies of scale, what are the limitations of economies of scale?

what are the limitations of economies of scale?

Theory of consumer behavior, THEORY OF CONSUMER BEHAVIOR: It is genera...

THEORY OF CONSUMER BEHAVIOR: It is generally observed that market aggregate demand curve for a commodity is downward sloping, given other things. Our problem is to investigate

What are advantages of using mathematics in modern economics, What are the ...

What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of

Price crimination, (i) Define the three types of price discrimination, clea...

(i) Define the three types of price discrimination, clearly stating the different information requires of each type of discrimination. (ii) Find a real-world example of second-degr

Define the price elasticity, Price elasticity is used in economics to deter...

Price elasticity is used in economics to determine the changes in price of goods and services. It measures the change in price demanded and quality supplied. Determinants of pri

Production function, Given the cost function as C=0.3Q3 -2Q2 + 13Q + 25, fi...

Given the cost function as C=0.3Q3 -2Q2 + 13Q + 25, find the supply function.uestion..

Cost theory, What are the economies and diseconomics of scale?

What are the economies and diseconomics of scale?

Unions, Unions are Organizations of working people which aim to bargain col...

Unions are Organizations of working people which aim to bargain collectively with employers in order to improve workers' bargaining power, regulate working conditions and raise wag

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd