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Problem No. 2 From following date compute (i) Real GDP (ii) GDP deflator (iii) inflation rate Year Nominal GDP Rs. billion CPI 2018-19 54195 228.1 2020-21 61583 251.3
(i) Real GDP in 2020-21 is:Yr = 61583×228.1/251.3 = 55897.66. (ii) GDP deflator is: Deflator = 61583/55897.66×100 = 110.17.(iii) Inflation rate is 110.17 - 100 = 10.17%.
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Contrast the nominal GDP and real GDP. Why do economists consider real gdp as a more reliable measure for comparing changes in the production level over a series of years?
Nominal GDP is the total gross national product evaluated at current market prices. Real GDP is gross national product calculated using the prices of a selected base period . Economists...
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If the base year prices are used during the measurement of GDP, then the.................is obtained.
1) Current GDP
2) Gross national product
3) Real GDP
4) Nominal GDP
3) Real GDP
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1. How is the Real exchange rate of seven years calculated?
2. How is the nominal and real effective exchange rate index calculated?
3. how is the nominal exchange rate of seven years calculated?
1. The Real exchange rate of seven years is nominal exchange rate multiplied by the change in price level. 2. Effective exchange rate of currency j = Normalized exchange rate...
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define
1. GDP
2. GNP
3. NI
4. Nominal GDP
5. Real GDP
6. Consumer price index
1. GDP (Gross Domestic Product) is the total value of all goods and services produced within a country in a financial year.2. GNP (Gross National Product) is the total value of finished...
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If nominal GDP rises, then so must real GDP. true or false
False
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ompare the evolution of Saudi's nominal GDP against real GDP between 1970 and 2019.
The nominal GDP of Saudi has been increasing from $921 million in 1970 to $23,266 million in 2019, unlike the Real GDP which has ben affected with the increase of...
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if nominal gdp rises, then so must real gdp true or false?
False
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<ol><li>The ratio of nominal GDP to real GDP is known as the:</li></ol>
The GDP Deflator. The GDP deflator is a price index that measures inflation or deflation in an economy by calculating a ratio of nominal GDP to real GDP.
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Discuss the difference between GDP and GNP. What about Nominal GDP and Real GDP?
Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures...
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