Examlex
Suppose an economy's real GDP is $100,000 in year 1 and $110,000 in year 2.What is the growth rate of its GDP? Assume that population was 200 in year 1 and 205 in year 2.What is the growth rate in GDP per capita?
Historical Cost
An accounting principle requiring assets to be recorded at their original purchase price, without adjusting for increases or decreases in value.
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