GDP is the total sum of the wealth produced in a country over a given period of time, usually one year. Nominal GDP is GDP at current prices, while nominal GDP is deflated GDP, ie, discounted inflation. Thus, if the inflation rate is 5% = 0.05, we have to use the formula for the real GDP calculation:
Real GDP 2018 = Nominal GDP / 1+ inflation rate
Real GDP = 315 / 1.05 = $ 300 (in billions).
To calculate the GDP growth rate between 2017 and 2018, just narrow the difference between real GDP for both years and divide by the value of real GDP for 2017. The result must be multiplied by 100 to find the percentage value.
GDP growth rate = {(300 - 273) / 273} * 100 = 9.89%
Answer:
Definitely A.
A geographer usual interests are toward how something effects a place in world. It can be also define by analysis of the use of scales in a map, such as regional.
Answer:
The first way to split economics is microeconomics and macroeconomics.
Microeconomics – concerned with individual markets and small aspects of the economy.
Macroeconomics – concerned with the whole aggregate economy. Issues such as inflation, economic growth and trade.
Explanation: Hope the picture helps
