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comparing PH
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Solved in 3 steps
- 1Discuss the effectiveness of Gross Domestic Product (GDP) as a measure a measure of the standard of living. Highlight the different methods used to measure GDP.Analyze the two approaches used to measure Gross Domestic Product (GDP) Give examplesCalculate GDP deflator from the following table: Year Nominal GDP Real GDP 2000 8952 8952 2001 9200 9050 2002 10,000 9500 2003 10,030 9330 2004 11,100 10,000
- What are the three (3) measures of GDP ? How are they calculated? (100-300 words)mment exE published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) 13,321.4 Investment (I) 3,368.0 Exports (X) 2,350.2 2,928.6 Imports (M) Net Exports of Goods and Services 3,374.4 Government Purchases (G) Gross Domestic Product (GDP)year real GDP Nominal GDP GDP deflator Price ($) per nutmeg Price ($) per drapes 2013 2700 70 10 8 2014 3600 100 12 9 2015 3600 4680 14 10 A) Calculate the missing information in the table
