Discuss real and nominal GDP. Point out how they are alike and how they differ. Also, explain the problem with using nominal GDP to measure the growth of the economy. What are the differences of nominal and real GDP and what is the importa...
Assume that full-employment real GDP is Y = $1,200 billion, the current equilibrium real GDP is Y = $1,600 billion, and the MPC = 0.8. To bring the economy to a full-employment real GDP, ___. Consider an economy that is operating at ...
Explain how real GDP adjusts to achieve equilibrium expenditure.
Explain the difference between GDP at current prices (nominal GDP) and GDP at constant prices (real GDP). Discuss why GDP is not a good indicator of economic welfare, particularly when measured over time or De...
Which type of externality (pecuniary or real), according to Pigou, leads to a violation of the First Theorem of Welfare Economics? Explain. Pigou The Economics of Welfare was Pigou's most significant study (1920). Pigou expanded on Marshall's...
which is different from the real world, and that the consumers know to be partly or fully invented1,2,3,4. Moreover, such fictional stories with imaginary worlds appear better at building huge fan communities, as exemplified by the fact that lots of them turn into highly profitable multimedia...
Moreover, lesser demand for loans due to higher real interest rates could also take a toll on MFIs financial sustainability as they will face higher costs of funds (Kahihu, Wachira, & Muathe, 2021). Thus, a negative effect of real interest rates is expected on both outreach and financial...
The collinearity between year and log real GDP per capita means that precise estimates of their independent associations are not possible; in the model with GDP per capita, which itself has a strong positive association with life expectancy at birth, year loses its statistical significance. Given ...
The EXPERTS (that did not predict this), now say, the stocks will bounce back. I believe they will come back but it will be many many many years and HOPEFULLY this time, it will be REAL. There is nothing to create a BOUNCE and nor should there be because for most of us ... it...
Real GDP: Definition & Formula from Chapter 3 / Lesson 68 19K National economies are measured by the value of the goods and services they produce. In this lesson, you'll learn about real gross domestic product, how it's related to a nation's production, and how it's cal...