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| Prajwal.s |
 Posted: Tue May 30, 2006 1:13 am Post subject: GDP |
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Forum Freshman
Joined: 19 May 2006
Posts: 1
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| can anyone please tell me how a country's gdp calculated...n on wat factors it depends? |
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| CaveatLector |
| Posted: Tue May 30, 2006 11:14 am Post subject: |
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Joined: 01 May 2006
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Location: Turn left at the second light, three houses down on the right. You can't miss it.
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Gross domestic product is basically the total market value of all goods and services produced within an ecomomy over a 1 year period.
It measures aggregate output. Nearly every country in the world uses GDP to calculate this, but the US just started in 1992. Before then the US used GNP to measure aggregate output.
Simply, GDP measures aggregae output within the borders of a country, while GNP measures aggregate output produced by the citizens of a country, wherever they are in the world.
GDP is calculated by multiplying each good by its market value (price). Then adding them together.
Use a net foreign factor income to move from GDP to GNP.
Hope this helps.
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Oscar Levant |
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| somberlaine |
| Posted: Tue Jan 02, 2007 5:14 pm Post subject: |
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Joined: 15 Sep 2006
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| actually, GDP is a measure of all FINAL goods and services (only one word extra, but makes a BIG difference. Plus that is onlyone way to measure GDP, there are 2 others. |
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| weknowtheword |
| Posted: Sun Jan 28, 2007 10:42 pm Post subject: |
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