Table of ContentsGrowth rate of Australia over the last ten years (2008-2018).........................................................3Analysis in the variation of growth rate in the time period of 2008-2018......................................5Major challenges faced by Australia in enhancing its growth rates................................................7Reference:........................................................................................................................................9
Growth rate of Australia over the last ten years (2008-2018)The nominal gross domestic product or the nominal GDP of a country is a useful and one of themajor indicators of growth as it is the sum total of the output produced in the economy. The GDPof a country for a particular year is the aggregate representation of all the gods and a serviceproduced in the country in that year and also includes the monetary value of the householdconsumption, government expenditure, government investment, and the net export of thecountry. The Nominal GDP of the country is the base of the calculation of the real GDP as thereal GDP is derived by multiplying the nominal GDP by the GDP Price Deflator in order toinclude the influence of inflation1.Quarterly Nominal GDP growth rate of Australia (2008-2018)21 Smeral, E. (2010)2 (Ceicdata.com, 2018)
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