Posts Tagged GDP

Difficulties in Measuring GDP (Gross Domestic Product)

Saturday, January 31, 2009, 17:19
Economics
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GDP is the value of goods and services produce in a country during the time period of year. Measuring of economy on GDP standards consist some drawbacks. Double Counting Problem Including the price of intermediate goods individually and with final product. Self doing activities Unrecorded economy in personal activities like the duties performed by oneself, housewives etc are not included in the GDP. Illegal ... Full article

Tags: difficulties in measuring GDP, double counting problem, GDP, Illegal Economy, Measuring GDP, Problem in measuring GDP, Statistical Errors

National Accounts Identity

Thursday, November 6, 2008, 13:56
Economics
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National Accounts Identity Recall that the concept of the circular flow of income makes it clear that, in a given period of time, the amount of expenditure in the economy must equal the value of output sold in return which then must equal the incomes paid to the owners of the factors which were used to produce the output. This identity between expenditure, output and income ... Full article

Tags: double counting, economics tutorials, expenditure, GDP, income, national accounts indentity, national income accounting, output

Personal Disposable Income

Thursday, November 6, 2008, 13:42
Economics
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Personal Disposable Income GDP and national income must be carefully distinguished from personal disposable income (PDI) which is the amount actually available for spending and saving to the personal sector (which consists mainly of households but also unincorporated businesses and charities). To arrive at PDI we need to take account of three factors. • Undistributed profits - not all profits earned by firms are paid out as ... Full article

Tags: GDP, PDI, personal disposabble income, taxes on income, transfer payments, undistributed profits, YD

Measurement of GDP, GNP, NNP

Thursday, November 6, 2008, 13:30
Economics
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GDP GNP and NNP constitute the three fundamental measures of an economy’s productive performance. • Gross domestic product (GDP) is the total value of output of goods and services produced in a county in a given period of time regardless of the ownership of the factors of production It therefore includes both consumer and capital goods and the output of both the private and public sectors. • ... Full article

Tags: economics concepts, GDP, GDP tutorial, GNP, GNP tutorial, gross domestic prodct, gross nationa product, macroeconomics concepts, net national product, NNP, NNP tutorial

Gross National prodcut - GNP

Thursday, November 6, 2008, 7:37
Economics
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Gross National prodcut - GNP Gross national product is the value of all commodities produce in the country including the earning of the entire citizens of the country working abroad and excluding earning of the foreigners in the country. GDP is the value of all products and services in the country during the provided time period. GNP includes all the earning of the nationals working within or ... Full article

Tags: economics tutorial, free economics learning, free economics tutorial, GDP, GDP tutorial, GNP, gross national product, macroeconomics, online economics tutorial

GDP - Gross Domestic Product

Thursday, November 6, 2008, 3:08
Economics
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GDP or Gross domestic product is the value of the entire product and services produce by a country in a given period of time. GDP consider the current value for measurement of GDP called current market value. GDP used by every country to measure their economy, currently USA is the largest economy having GDP of 13.13 trillion dollars. GDP often measure ... Full article

Posts Tagged GDP

Difficulties in Measuring GDP (Gross Domestic Product)

National Accounts Identity

Personal Disposable Income

Measurement of GDP, GNP, NNP

Gross National prodcut - GNP

GDP - Gross Domestic Product

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