What does GDP stand for – Real gross domestic product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation). This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely approximates the total spending: the sum of consumer spending, investment made by industry, excess of exports over imports, and government spending. Due to inflation, GDP increases and does not actually reflect the true growth in an economy. That is why the GDP must be divided by the inflation rate (raised to the power of units of time in which the rate is measured) to get the growth of the real GDP. Different organizations use different types of ‘Real GDP’ measures, for example the United Nations UNCTAD uses 2005 Constant prices and exchange rates while the FRED uses 2009 constant prices and exchange rates, and recently the World Bank switched from 2005 to 2010 constant prices and exchange rates.
Description of INDO-PAKISTANI war of 1947-1948 : Description : Sometime in August 1947, the first signs of trouble broke out in Poonch, about which diverging views have been received. Poonch was originally...
1.People Who Are In Debt Can Be Controlled After Rome was sacked by the Gauls, the republic had to funnel a fortune into defense. Taxes went up, the poor went...
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