The IMF view point on India’s GDP The International Monetary Fund (IMF)‚ in its World Economic Outlook‚ projected an average growth rate of about 3.75 per cent in market prices for India in 2013-14‚ which is expected to pick up to 5.1 per cent next year. India’s GDP growth slowed to 5 per cent in the year 2012-13 ending March from an average of 8 per cent over the past decade. In addition‚ two consecutive months (July-August) of negative business sentiment and higher interest rates may curb
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Journal of Economic Literature 2009‚ 47:4‚ 1029–1075 http:www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1029 Beyond GDP: The Quest for a Measure of Social Welfare Marc Fleurbaey* This paper critically examines the various approaches to the measurement of individual well-being and social welfare that have been considered for the construction of alternatives to GDP. Special attention is devoted to recent developments in the analysis of sustainability‚ in the study of happiness‚ in the theory
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has been considered one of the most powerful global economies. Despite of the remarkable growth experienced during the period 2000-2007‚ in 2008-2009 coinciding with the financial crisis‚ the economy constrained causing a sharp deceleration in the GDP growth. Surprisingly‚ the country recovered so fast achieving an unprecedented growth of 14.8% in the year 2010. How can a small country like Singapore avoid the economic recession and become one of the world-fastest growing economies? This study tries
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1. Why do economists use real GDP rather than nominal GDP to gauge economic well-being? Real GDP is the production of goods and services valued at constant prices. Nominal GDP is the production of goods and services valued at current prices. Real GDP rather than nominal GDP to gauge economic well-being because real GDP is not affected by changes in prices‚ so it reflects only changes in the amounts being produced. If nominal GDP rises‚ you do not know if that is because of increased production or
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GDP is expected to grow by 5.1% for both 2013 and 2014‚ driven by higher consumer and business spending. As the global recovery gathers speed in 2014‚ Malaysia’s external sector will increase its contribution to growth‚ offsetting the impact of tighter fiscal policies on the domestic economy. Malaysia’s recent economic performance and near term outlook owes much to the commodities sector‚ which includes crude oil‚ natural gas‚ rubber and palm oil. The sustainability of Malaysia’s favorable near-term
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Reprints This copy is for your personal‚ noncommercial use only. You can order presentation-ready copies for distribution to your colleagues‚ clients or customers here or use the "Reprints" tool that appears next to any article. Visit www.nytreprints.com for samples and additional information. Order a reprint of this article now. May 13‚ 2010 The Rise and Fall of the G.D.P. By JON GERTNER Whatever you may think progress looks like — a rebounding stock market‚ a new house‚ a good raise
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inflation is 12 percent during the year. 5. The value of your money income‚ in terms of buying goods and services‚ is referred to as your money’s A) staying power. B) rigidity factor. C) purchasing power. D) transaction cost. 6. GDP figures may understate the value of goods and services due to A) the exclusion of the underground economy. B) the inclusion of household production. C) the inclusion of legal non-reported‚ non-taxed income. D) the exclusion of the value of stocks
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Gross domestic product (GDP) Market value of recognized goods and services produced in a country over a period of time. Real GDP Real GDP reflects the value of all goods and services produced in a year with inflation-adjusted measures. Nominal GDP GDP figures that have not been adjusted for inflation. Unemployment rate Unemployment rate is figured by people that are actively looking for work and are available to work at the present moment. Inflation rate The rate of increase in a price
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6/20/13 Out.OM1a What’s in and what’s not in GDP? Definition: GDP is defined as: the market value of currently produced‚ final goods and services produced annually within a country’s borders. It turns out that nearly each term in this definition is there for a reason and that if we look briefly at each of the terms we will have a better sense of what GDP is - and what it is not. First‚ however‚ let’s fast forward and acknowledge that GDP is NOT a measure of economic well-being - a point first
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suffering due to lack of freedom. We see it in the Middle East‚ especially now‚ we also see it in a lot of African countries. In any country who is not democratic‚ there seems to be an issue. Even in the rich China‚ yes indeed they are rich but their GDP per capita puts them far away from the democratic countries‚ as Chinese common folk live rather miserably. The Middle East who has been riddled with violence for many years now is a prime example‚ there is not even one country who we can consider democratic
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