Class Notes (837,435)
Canada (510,273)
Economics (1,617)
ECON 1BB3 (535)
Lecture

Economics Gross national product

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Fall

Description
Economics Gross national product: market value of all final goods and services produced by a countries factors in a given period of time GDP increases if prices increase or if output increase Real GDP vs Nominal GDP (base year prices vs current year prices) GDP deflator= (nominal gdp/real gdp) x100 Year Nominal gdp Real gdp Gdp deflator Inflation rate 2010 6500 6500 100 - 2011
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