Nominal GDP represents the total value of all final goods and services produced within an economy during a specific period, without adjusting for inflation. It provides a snapshot of the current market value of an economy’s production. Nominal GDP takes into account price changes and does not ...
When estimating the income of the working population, both formal and informal, it was observed that in the first quarter of 2023, informal workers earned an average of USD 252 per month, while formal workers received an average monthly income of USD 371. This represents a difference of USD...