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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.
If you were a restaurant owner and you knew that the demand for your restaurant was elastic, how would you feel about a sales tax on restaurant food? Explain.
Please select either question (a) or question (b). Do NOT answer both questions. a. Mr. William Randolph Hearst is an entrepreneur based in California. He owns many newspaper
Assume an industry with one upstream and one downstream monopoly. The upstream monopoly produces Q , which is sold solely to the downstream monopoly. The downstream monopoly faces
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briefly explain any five uses of national income statistics
What is the study of economics about?
explain the functions and role of the world bank
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