Explain why the growth rate of GDP in current prices does not provide information about how quickly

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Explain why the growth rate of GDP in current prices does not provide information about how quickly the economy is really growing.

China’s real GDP increased 6.9 percent in the first quarter of 2017 from a year earlier. Investment grew by 9.2 percent and retail sales by 10.9 percent. In current prices, GDP increased by 11.8 percent from a year earlier.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:02 PM

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Explain why the growth rate of GDP in current prices does not provide information about how quickly

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Gross Domestic Product GDP is a measure of economic activity within a country Its the total value of ...View the full answer

Economics

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