Economics

The GDP deflator, also described the implicit price deflator for GDP, is defined as the ratio of nominal

Nominal GDP uses current prices to place a value on the economy’s production of goods and services. Real

In this chapter we will study 4 different components of GDP. Components of GDP are… Consumption Investment Government

Gross domestic product (GDP) is the market value of all final goods and services produced within a country

In this chapter we will learn about Circular flow of income and expenditures in relation to GDP. The

Gross domestic product (GDP), is one way of measuring the size of the economy, but it’s not the

So far we have seen how supply and demand together determine a market’s equilibrium, which in turn determines

The dictionary defines the word equilibrium as a situation in which various forces are in balance—and this also

shifts in the supply curve change, Whenever there is a change in any determinant of supply, other than

Because the quantity supplied rises as the price rises and falls as the price falls, we say that

A shift in demand curve is when a determinant of demand other than price changes. The position of