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Yes. It can also be reduced depending on market forces
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If GDP increased by 5 percent and real GDP increased by 5 percent what has happened to the average price level?
If (nominal) GDP and real GDP are equal then average price levels are constant.
Why has the nominal GDP increased faster than real GDP in the US over time?
The real GDP is influenced by inflation.
Where to find UK city GDP?
In the UK, London is found to leading in GDP. The Gross Domestic Product of London is estimated to be$565, leading in the UK.
What is England GDP?
The GDP of England is $2522.26 billion dollars and the service industry accounts for the majority of England's GDP. England's GDP has increased annually 0.8 percent.
What is the GDP in the UK in 2007?
$2.13 trillion which is a GDP per capita of £37000
What is the GDP of UK per sector?
The GDP of United kingdom per sector is 0.3%
Whats does an increase in nominal GDP imply?
When the nominal GDP increases it implies that prices have increased. Nominal GDP is current prices and real GDP takes prices changes into account.
What is the GDP of 2008 in the UK?
US$2,679,013,000
What is the tobacco industries contribution to the UK GDP?
cancer
What is the Contribution of retail sector to UK GDP?
5.6%
What the strengths of modernization theory?
Modernization theory highlights the benefits of economic development, technological progress, and social change for improving societies. It emphasizes the potential for countries to modernize and improve living standards through industrialization and increased wealth. Additionally, it provides a framework for understanding how societies transition from traditional to modern ways of living.
A monetary policy will increase GDP in the short run if?
GDP can be increased in the short run by having a monetary policy of keeping interest rates as low as possible. Low rates allows increased borrowing in the corporate sector and thus it has funds to increase production and hopefully increase the size of GDP.
