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Topic 7 Notes

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Topic 7 Notes for HSC 2011 Economics Course. Taught at top performing Eastern Suburbs Private School

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8 Pages Partial Study Notes > 2 Years old
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Topic 7 Notes
Topics this document covers:
Technology Business Social Issues Gross domestic product Inflation IS/LM model Economics Macroeconomics Aggregate expenditure Recession
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Technology Business Social Issues Gross domestic product Inflation IS/LM model Economics Macroeconomics Aggregate expenditure Recession
Sample Text:
It is measured by the annual rate of change in real GDP i.e.: the percentage increase in the value of goods and services produced in an economy over a period of time, adjusted for the rate of inflation Economic Growth (%)= real GDP (current.year) - real GDP (previous year) 100 X real GDP (previous year) 1 • • • • The Australian Bureau of Statistics estimates the level of GDP in Australia: Every 3 months the ABS calculates the quarterly rate of economic growth Quart...
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