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Check the article Gross domestic product, income and expenditure, first quarter 2021 (https://www150.statcan.gc.ca/n1/daily-quotidien/210601/dq210601b-eng.htm) and answer the following questions: How nominal and real GDP did change
Check the article "Gross domestic product, income and expenditure, first quarter 2021" (https://www150.statcan.gc.ca/n1/daily-quotidien/210601/dq210601b-eng.htm) and answer the following questions:
- How nominal and real GDP did change during the first quarter of 2021?
- What factor(s) did contribute to the change in nominal GDP? Can these factors also explain a change in real GDP? Explain your answer.
- You have learned that GDP can be classified in four components including consumer expenditures, investment, government purchase, and net exports. Which of these components did contribute to the change in real GDP?
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The Worldly Philosophers The Lives, Times And Ideas Of The Great Economic Thinkers
Authors: Robert L Heilbroner
7th Edition
068486214X, 9780684862149
