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It’s the king of economic statistics. Gross domestic product is an important tool to measure the health and strength of a country’s economy, but it doesn’t always give a full picture. So how does GDP work? CNBC’s Elizabeth Schulze explains. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC Life on YouTube: http ...
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Equation (2.1) says that trade between any two countries is proportional to the product of their GDPs. Does this mean that if the GDP of every country in the world doubled, world trade would quadruple? | Numerade
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Equation (2.1) says that trade bet ween any two countries is proportional to the product of their GDPs. Does this mean that if the GDP of every country in the world doubled, world trade would quadruple? Analyze this question using the simple example shown in Table 2-2. | Numerade
Equation (2.1) says that trade bet ween any two countries is proportional to the product of their GDPs. Does this mean that if the GDP of every country in the world doubled, world trade would quadruple? Analyze this question using the simple example shown in Table 2-2. | Numerade
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