AD012/TG017 - Macroeconomics_G_2425
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Suppose that an economy produces 40,000 units of good A which sells at €4 a unit and 20,000 units of good B which sells at €5 per unit. Production of good A contributes
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If private investment increased by €50 billion while GDP remained the same, which of the following could have occurred, all else being the same?
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UK Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
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GDP is used as the basic measure of a society's economic well-being. A better measure of the economic well-being of individuals in society is
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Last year country A had a nominal GDP of €600 billion, a GDP deflator of 150 and a population of 40 million. Country B had a nominal GDP of €720 billion, a GDP deflator of 120 and a population of 50 million. From these numbers which country is likely to have had the higher standard of living?
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GDP is not a perfect measure of well-being; for example,
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Gross domestic product measures
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Gross Domestic Product is the sum of the market value of
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If nominal GDP in one year exceeds nominal GDP in the previous year, then the production of output
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If your grandparents buy a newly built retirement home, this transaction would affect
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