MGTA01H3 Chapter 2: Chapter 2 Notes

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lavenderdonkey6

7 Dec 2010

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Chapter 2 understanding the environments of business notes. N gdp and gnp are useful measures of economic growth because they allow us to track an economy"s performance over time. N an organization called redefining progress has proposed a more realistic measure to assess economic activity the genuine. Real gdp means that gdp has been adjusted nominal gdp gdp measured in current dollars or with all components valued at current prices real gdp gdp calculated to account for changes in currency values and price changes. N gdp per capita means gdp/person, which as measure of economic well-being of average person, is better measure than gdp. N when this adjustment is made, both gdp and purchasing power parity (ppp) are accounted for. Ppp principle that exchange rates are set so that prices of similar products in different countries are about same.

Related Questions

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