caviar contributes more to GDP than the production of a pound of hamburger because the contribution to GDP is measured by market value and the price of a pound of caviar is much higher than the price of a pound of hamburger. 3. The four components of expenditure are: (1) consumption; (2) investment; (3) government purchases; and (4) net exports. The largest component is consumption‚ which accounts for more than two-thirds of total expenditure. 4. Real GDP is the production of goods
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Discuss 4 reasons‚ why using percentage change in Nominal GDP is an inadequate measure of Economic Growth? Nominal GDP (Gross Domestic Product) measures the total value of goods and services produced by an economy over a period of time‚ which is normally one annum‚ and is not adjusted. There are factors which means that the fact the Nominal GDP is not adjusted makes it an inadequate measure of economic growth. Economic growth is the increase in the amount of the goods and services produced by an economy over
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Tanglewood Case 2 Strategic Staffing (HR 594) Summer Session B comronf@gmail.com TANGLEWOOD CASE TWO ATT: Daryl Perrone After analyzing the data and performing an environmental scan it is clear that the demographics of Spokane‚ Washington will present you will problems filling vacancies based on the Equal Employment Opportunity requirements. Spokane is the second largest city in Washington and according to my research 84% of these people are white. The next largest minority group‚ Hispanic
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*MACAU GDP (PPP) – $47.19 billion (2011 est.)rank 98 GDP (OER) – $44.3 billion (2012 est.) GDP Real Growth Rate – 10% (2012 est.)rank 9 GDP Per Capita – $82‚400 (2011 est.) rank 4 Labor Force – 356‚700 (2012 est.)rank 159 Unemployment Rate – 1.9% (2012 est.)rank 11 Inflation Rate – 6.2% (2012 est.)rank 166 *KUWAIT GDP (PPP) – $153.4 billion (2012 est.)rank 62 GDP (OER) – $173.4 billion (2012 est.) GDP Real Growth Rate – 5.1% (2012 est.)rank 60 GDP Per Capita – $40‚500 (2012 est.)rank 27 Labor Force
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Sectors contributing to India’s GDP India is a vast country‚ so the sectors contributing to the country’s GDP is also big in numbers. Various sectors falling under the India GDP composition includes food processing‚ transportation equipment‚ petroleum‚ textiles‚ software‚ agriculture‚ mining‚ machinery‚ chemicals‚ steel‚ cement and many others. Agriculture is the pre dominant occupation in India‚ employing more than 50% of the population. The service sector accounts for employing more than 25%
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II. CIRCUMSTANCES OF THE CASE Crown Court was established on 1 January 1972 by Courts Act 1971 to replace the Assize Courts and quarter sessions. Court of England and Wales Crown is‚ with the High Court and Court of Appeal‚ one aspect of the Senior Courts of England and Wales. It is the superior court of first instance in criminal cases; However‚ for some purposes Crown Court is hierarchically subordinate to the High Court and its divisional courts. Crown Court performs four main types of activity:
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Ch.23 1. In order to include many different goods and services in an aggregate measure‚ GDP is computed using‚ primarily‚ a. values of goods and services based on surveys of consumers. b. market prices. c. consumer and producer surpluses. d. costs of producing goods and services. ANS: B 2. James owns two houses. He rents one house to the Johnson family for $10‚000 per year. He lives in the other house. If he were to rent the house in which he lives‚ he could earn $12‚000 per year in rent by doing
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Chapter 20 Measuring GDP and Economic Growth Gross Domestic Product • • • • • GDP or Gross domestic product is the market value of all the final goods and services produced within a country in a given time period. A final good (or service) is an item that is bought by its final user during a specified time period. An intermediate good (or service) is an item that is produced by one firm‚ bought by another firm‚ and used as a component of a final good or service. Study Figure 20.1 on p. 469 of your
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is known as gross domestic product (GDP). The indicator was created in the wake of great depression in 1930s and still is used to measure individual countries’ economic performance. But now most of the economists claim that GDP alone cannot reflect the economic performance of a society because it has many flaws and does not acceptably measures the household productions‚ voluntary work‚ defensive and remedial spending and cash for clunkers. To begin with GDP does not account for the household productions
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and not in others? d. How rapidly is GDP currently increasing? 3. Which of the following statistics is usually regarded as the best single measure of a society’s economic well-being? a. the unemployment rate b. the inflation rate c. gross domestic product d. the trade deficit 4. For an economy as a whole‚ a. income is greater than expenditure b. expenditure is greater than income. c. income is equal to expenditure. d. GDP measures income more precisely than it
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