Because it might lead to major misinterpretations, it is critical to highlight why imports are removed from the national income identity. First, based on the identity, one would infer (incorrectly) that imports are deducted because they are a cost to the economy. This debate frequently develops as a result of the traditional political focus on […]
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The Consumer Price Index measures inflation in households (CPI). Headline In 2021, CPI inflation was 5.09 percent from January to November. This is within India’s inflation target range of 2 percent to 6%. However, a favorable base effect is playing a part in this year’s inflation. Inflation between January and November in 2020 was 6.82
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Because the salaries paid to employees and the prices charged to customers are “inelastic,” or resistant to change at first, reducing payrolls is a usual solution. Rising unemployment reduces consumer spending even more, triggering a vicious economic contraction cycle. A recession is defined as a drop in real GDP for two or more quarters in
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The Great Recession, which ran from December 2007 to June 2009, was one of the worst economic downturns in US history. The economic crisis was precipitated by the collapse of the housing market, which was fueled by low interest rates, cheap lending, poor regulation, and hazardous subprime mortgages. New financial laws and an aggressive Federal
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Argentina competed with other South American countries and a few countries from other areas of the world for the dubious honor of having the world’s highest inflation rate from the end of WWII until the 1990s. The price rise in Argentina was propelled by rapidexpansion of the money supply, as is always the case with
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Inflation is the rate at which the price of goods and services in a given economy rises. Inflation occurs when prices rise as manufacturing expenses, such as raw materials and wages, rise. Inflation can result from an increase in demand for products and services, as people are ready to pay more for them. Some businesses
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Seychelles: With a GDP per capita of $9,670, this island nation now boasts the highest in Africa. Mauritius: Another island African country, Mauritius, takes the number two spot. The GDP per capita in this country is $9,640. Gabon: With a GDP per capita of $8,600, this oil-rich country is ranked third. South Africa is one
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Despite months of assurances from President Recep Tayyip Erdogan that the soaring figures were only temporary and that his government could ease the pain on Turks burdened by rising living costs, Turkey’s annual inflation rate has risen to a 20-year high of 48.7%, according to state data released on Tuesday. According to the Turkish Statistical
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Hairdressing is frequently sarcastically referred to as “recession-proof” because it is one of the last expenses that people cut back on during hard times. According to Nick Arrojo, proprietor of Arrojo Studio in New York and former star of TV’s “What Not To Wear,” people will wear old clothes but find it difficult to forego
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The Bureau of Economic Analysis calculates real gross domestic product (GDP), which is an inflation-adjusted version of GDP. The percentage change in real GDP from year to year illustrates how much greater or lower it is. The larger the absolute increase required to attain a given growth rate, the higher the real GDP, and vice
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