GDP
What is economic growth?
How is economic growth measured?
What is potential VS actual growth?
What is GDP?
QUESTION
Economics growth is a measure of an increase in real GDP. This is measured by the
annual % change in real GDP.
This is known as actual economic growth.
> Potential economic growth is a measure of the increase in the productive
capacity of an economy and can be shown as a movement outward of the PPF
curve.
GDP is the the total amount/value of goods and services produced in a country in
1 year.
ANSWER
, Economic growth
What is meant by economic growth ?
What is meant by real and nominal GDP ?
What is the difference between value and
volume ?
QUESTION
Real GDP: is the nominal GDP adjusted for inflation.
Nominal GDP: is simply the money value of all goods and services
produced by a country in 1 year.
Total GDP: represents the overall GDP for the country.
GDP per capita: is calculated by dividing by GDP the country’s population.
Volume is the volume of Value is the value of output, it
output,it measures the measures the amount of goods
number/amount of and services produced by the
goods produced. price at which they are sold.
ANSWER
What is economic growth?
How is economic growth measured?
What is potential VS actual growth?
What is GDP?
QUESTION
Economics growth is a measure of an increase in real GDP. This is measured by the
annual % change in real GDP.
This is known as actual economic growth.
> Potential economic growth is a measure of the increase in the productive
capacity of an economy and can be shown as a movement outward of the PPF
curve.
GDP is the the total amount/value of goods and services produced in a country in
1 year.
ANSWER
, Economic growth
What is meant by economic growth ?
What is meant by real and nominal GDP ?
What is the difference between value and
volume ?
QUESTION
Real GDP: is the nominal GDP adjusted for inflation.
Nominal GDP: is simply the money value of all goods and services
produced by a country in 1 year.
Total GDP: represents the overall GDP for the country.
GDP per capita: is calculated by dividing by GDP the country’s population.
Volume is the volume of Value is the value of output, it
output,it measures the measures the amount of goods
number/amount of and services produced by the
goods produced. price at which they are sold.
ANSWER
