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What is GDP, and how does it affect me?
GDP (or Gross Domestic Product) is one of many tools that can be used to determine how well an economy is doing. GDP is used by businesses to determine when they should expand or hire more people. It also allows the government to calculate how much to tax and what to spend. What is GDP?…
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Deflation – definition, causes, and effects
Every currency in the world has a specific value. Some gain from it, and others lose. Things are very fluid by nature. While there is a lot of talks today about inflation, its economic opposite is usually kept quiet. So what is deflation? How much should it be, and why is it as dangerous as…