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Thread: GDP

  1. #1 GDP 
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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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  3. #2  
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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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  4. #3  
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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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  5. #4  
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    Well here is your answer...
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