This law will impact the labor market cause of low pay rate that will stop more people from applying for that job
One of the features of the new approach is that, now BEA uses the geometric average of fixed weight indexes and uses two base years to calculate the growth rate of real GDP between two consecutive years.
Explanation:
In both actual and nominal GDP, the U.S. Economic Analysis Department results. It estimates the real United States. GDP is a fixed base year annual rate. Imports and international sales from American businesses and people are exempt.
GDP reflects the degree to which the economy generates production. Global warming is not generated and not part of GDP. The effect of environmental damage is not measured accurately. The loss should not be included in GDP and the calculation of environmental damage has not been accepted.
Answer:
Beta distribution
Explanation:
Beta distribution In probability theory
is regarded as a part of continuous probability distributions with a defined interval which could be 0 and 1, and it is characterized with two positive parameters (α and β) which is seen as
as exponents of the random variable .
It should be noted that Beta distribution probability is commonly used to model the inherent variability of activity time estimates in project management