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BUSI12340 - Economics and Data Analysis for Managers

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NOTTINGHAM TRENT UNIVERSITY     NOTTINGHAM BUSINESS SCHOOL   MODULE TITLE? Economics and Data Analysis for Managers   MODULE CODE:   BUSI12340   Deadline:   11pm on7/2/2020                                                                                                 &

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ANALYSIS OF EXPORT GROWTH RATE AND THE GDP GROWTH RATE:

  1. The real GDP growth rate can be calculated using the nominal GDP and the GDP deflation factor. Actually, the deflation is adjusted in case of real GDP but the nominal GDP is calculated based on the current market price. So, the nominal GDP doesn’t get affected by the inflation or the deflation as the base formula doesn’t take that into account while calculating this GDP. This nominal GDP is considered to have a higher value than that of the real GDP as this takes into account the current market changes. Since the base year is taken into consideration for the real GDP analysis, it comes with a much lower value compared to the nominal GDP. The data of the real GDP is given below.

Year

real GDP

Year

real GDP

Year

real GDP

1963

7.85649E+10

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