by Marjan Arbab | Jan 16, 2014 | Macroeconomics
Price Index A Price Index is a measure of the average level of prices. So when we see a news on the TV that “Inflation is rising”, they are really reporting the movement of a Price Index. A price index is a weighted average of the price of a basket of goods and... by Marjan Arbab | Jan 1, 2014 | Macroeconomics
Nominal GDP Nominal GDP is simply the value of all final goods and services produced in a country or in other words it is the current market value of Goods and services. As discussed before the formula for Nominal GDP is as follows Whereas P and Q are the current...