GDP (1 Viewer)

[ohsofluffy]

What is GDP??

 

[Supra JZA80]

Gross Domestic Product: The total market value of all final goods and services produced in a country in a given year.
GDP is equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
http://www.investorwords.com/2153/GDP.html

 

[determine]

GDP is also the key measure of economic growth performance in economies.

 

[reps2g]

go post your aims dammit!

 

[OzKo]

GDP growth is also the key measure of economic growth performance in economies.

FYP

 

[determine]

FYP

no, this is actually correct. the growth rate of GDP is what determines the economic growth performance of an economy - as economic growth is actually a rate of change, we do not simply accept the GDP figure in isolation, but we consider it against the previous GDP figure in that economy, which is why the economic growth % formula is GDP current year minus GDP previous year, all divided by the GDP in the previous year.

 

[powlmao]

Wouldn't it be better to use PPP to measure growth ? Or at least real GDP ?

(since we clare growth rates usually)

 

[Supra JZA80]

basically economic growth is the increase in real output of an economy which is measured by changes in real GDP (that is adjusted for inflation) however PPP serves as a way to compare GDP of other countries by conversion into $US dollars