JAMB - Economics (2017 - No. 23)
Explanation
The following are some indicators of economic growth:
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GDP. Gross Domestic Product, or GDP, is the total market value of all goods and services produced by a country in a specific time period, typically a year. This includes earnings from foreign investments.
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Money Supply. Money supply is a representation of the total amount of money a country has in circulation. M2 is slightly more specific.
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CPI. Consumer Price Index, or CPI, measures changes in consumer prices, or the retail prices paid for about 80,000 specific goods and services (called the market basket) by urban consumers for a specific month.
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PPI. Called the Wholesale Price Index until 1978, the Producer Price Index, or PPI, measures and tracks the changes over time of the average selling price of domestically-produced goods and services.
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CCI Consumer Confidence Index (CCI), or what is sometimes referred to as the Consumer Confidence Survey, measures how consumers feel about the current and future economic conditions.
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Employment Current Employment Statistics, or CES, provide data on national employment, unemployment, and wages and earnings across all non-agricultural industries, including civilian government workers.
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