Gross domestic product Essays & Research Papers

Lecture Notes on Measuring the Economy By: Melcah T. Pascua National Income Accounting The primary measure of the economy’s performance is its annual total output of goods and services or, as it is called, its aggregate output. Aggregate output is labeled Gross Domestic Product (GDP): the total market value of all final goods and services produced in a given year. Three approaches of computing GDP. 1. The Expenditure Approach (Output Approach) Personal Consumption...

Assignment 2: What is Gross Domestic Product ECO201 Macroeconomics Instructor: George Williams Carleen Wardlow student at Argosy University July 3, 2013 (1) What was Real GDP for 2009? The Real GDP for 2009 was that there was a decrease at an annual rate of...

(a) Analyse the methods by which Gross Domestic Product (GDP) may be measured. (10 marks) In order to effectively analyse the ways in which GDP is measured and why this is, we must first identify what GDP is. Gross domestic product (GDP) is the total value of output in an economy and is used to measure change in economic activity. GDP includes the output of foreign owned businesses that are located in a country following foreign direct investment. For example, the output produced at the...

Writing Assignment #2: Gross Domestic Product Gross domestic product also known as GDP is the total value of all goods and services produced in the economy during a specified period of time, such as a year or quarter. GDP is very important to the American economy because it effects each individual in some type of way. Improvements in the economic well-being of individuals in any society cannot occur without such an increase in real GDP. When real GDP per capita is increasing, then the...

Gross Domestic Product (GDP) Gross Domestic Product is the summary of the National Income and Product Account (NIPA) tables, which is provided by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA). GDP estimates the market value of all final goods, services, and structures produced in a given period by labor and property located in the U.S., regardless of who owns the resources. Calculation of GDP involves estimating the quantity of those commodities produced, assigning a...

6. Durrant Manufacturers, Inc. spent $8 million on plant expansion, $1.5 million on new capital equipment, and $0.5 million on replacement capital in 1980. At the beginning of 1980, Durrant had $2.5 million of goods in its inventory; at the beginning of 1981, they had $1.5 million in their inventory, with sales during the year running $20 million. During 1980, their gross investment expenditures were: a. $9.0 million. c. $8.0 million. b. $9.5 million. d. $10 million. 7. Which of the following...

Calculating GDP To calculate GDP for a number of different goods national income accounting uses market prices. For instance, if the economy were to produce eight onions and four pears and onions were sold for $1.00 each and pears were sold for $1.50 each, GDP would equal the total of the quantity of onions times its price and the quantity of pears times its price. This would look like: GDP = (Price of Onions x Quantity of Onions) + (Price of Pears x Quantity of Pears) GDP = ($1.00 x 8)...

Macro homework No.1, Chapter 16 Spring 2014 ! Problem I Suppose a person marries his or her gardener and therefore no longer pays him or her for gardening services. GDP______ A. stays the same as long as the services are still provided. B. increases since the services are now provided for free. C. decreases since there is no longer a market exchange. D. stays the same, since services are not included in GDP. ! Problem II Peg’s Manicure Manor did...

Gross Domestic Product Equal To Social Well-Being? GDP is stand of "Gross Domestic Product"; we typically use it as a measurement of social well-being. However, it also comes up with some main criticisms when we are linking GDP together with social well-being. Should we use or only use GDP as a measurement of social well-being? Or, should we place a higher priority above the pursuit of economic growth? There are no absolute answers to these questions, but the argument itself has become...

Go to the following website: www.bea.gov/index.htm Based on the information contained on the website above, answer the following questions: 1. What was Real GDP for 2009? The Real GDP for 2009 was 13,973.7 (NIPA Tables 1.1.5, 2012) a. What does GDP tell us? The GDP gives information regarding the country’s economy in regards to total money value on all final goods and services that are produced in the economy over any given time frame - annually or quarterly. Real GDP accounts for...

How resale of items impacts GDP The textbook defines Gross domestic product (GDP) as “The market value of all final goods and services produced within a country during a specific period” (Gwartney pg. 131). GDP is a tool to measure a country’s economic growth. The term re-sale is defined as “The act of selling something that you have bought” (Merriam-Webster). The resale of items are not included in the GDP because they do not involve current production, they were already counted in the GDP...

Written with Mahendra Madhavan for a case study in our Global Financial Management course. Thesis Citibank must answer questions regarding its purpose within Indonesia. Bank headquarters has requested higher net incomes, augmenting a currently aggressive budget. Citibank’s quest for higher profits could negatively affect the bank’s long-term leadership in Southeast Asia. Overview Citibank expanded into Indonesia in 1968. By 1983, the local Citibank official in Indonesia, Mr. Mistri,...

BACHELOR OF BUSINESS ADMINISTRATION (HONS) FINANCE FACULTY OF BUSINESS MANAGEMENT UNIVERSITI TEKNOLOGI MARA SEGAMAT, JOHOR. A STUDY ON THE FACTORS EFFECTING GROSS DOMESTIC PRODUCTS IN MALAYSIA FATIN SYAFIQAH BINTI A. MALEK 2011633182 IZZATUL BINTI IDRIS 2011218574 NOORASHIKIN BINTI MAZLAN 2011281649 NUR HIDAYAH BINTI MOHD AMIN 2011243308 NURSYAHIRAH BINTI DARUS 2011482782 JBM 222 5B SEPTEMBER 2012 A STUDY ON THE FACTORS THAT EFFECTING GROSS DOMESTIC PRODUCTS IN...

EFFECT OF DIFFERENT FACTORS ON GROSS DOMESTIC PRODUCT: A COMPARATIVE STUDY OF PAKISTAN AND BANGLADESH Shafaqat Mehmood Resource Mentors (Pvt,) Ltd., Lahore, Pakistan E-mail: shafaqatphd@gmail.com, Cell# 00923334895247 Abstract This study investigates the affect of thirteen selected factors (independent variables) on Gross Domestic Product (GDP) in Pakistan and Bangladesh economy, for the purpose of comparing both countries finding, to identify with reasons, which country is in better...

The net domestic product (NDP) equals the gross domestic product (GDP) minus depreciation on a country's capital goods. Net domestic product accounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration. The depreciation accounted for is often referred to as "capital consumption allowance" and represents the amount of capital that would be needed to replace those depreciated assets. If the country is not able to replace the capital stock...

MACROECONOMIC FINAL PAPER TOPIC: “COMPARATIVE ANALYSIS OF THE DYNAMICS OF GROSS DOMESTIC PRODUCT AND INFLATION RATES” TABLE OF CONTENT 1. Theoretical approach of the GDP and inflation rate, and the link between both 3 1.1. The Gross Domestic Product 3 1.2. Inflation rate 4 The calculation of the inflation rate: 5 1.3. the link between inflation rate and GDP 5 How to calculate: 6 1. France 7 1.1. GDP 7 1.1.1. Composition of the GDP in...

Raised on rationing and under the spectre of a nuclear war, older generations have loved to grumble about the easy ride enjoyed by youngsters today at one point or another. But it would seem that despite the improved working conditions, freedom and vast array of ways to splash the cash, life for young people has never been tougher. A surprising study of 4,000 people across two generations found that not only does the current younger generation think their parents had it easy, the over-50's...

Company Background The Australian Pineapple Products Exporting Company (APPEC) was incorporated in Central Queensland, Australia by a group of 10 top pineapple-growers and merchants (5 large individual growers, 1 large fruit merchant already exporting, 4 packing sheds representing groups of growers). These 10 pineapple-growers are among the best operators from each of the four main pineapple-growing districts, Central Queensland, North Queensland, Southern Queensland, and the Wide Bay area near...

GDP should really stand for Grossly Deceptive Product” The Economist What does GDP actually measure? When discussing about the economy of one country, people often talk about “Gross Domestic Product (GDP). However, there are a number of disagreements among economist about the value of GDP. Therefore, this essay will discuss whether or not GDP is an ideal measurement of the development of a nation. It first explores the term GDP and ways to measure it. The essay then compares GDP with Gross...

Essay n°=1: Describe the methods used to calculate value added. How does value added contribute towards understanding the connections between the business and its product markets? Use relevant examples to illustrate points. Within the framework of value added in general, Pigou and Bernard Cox suggested the calculation of Value Added that is used for classical nationals accounts. In 1920, Pigou gave his interpretation of value added, consisting of being able to precisely determine the...

Australia’s GDP and Government Expenditure GDP or Gross Domestic Product measures the value of production and the income earned from that production that occurs within a nation’s boundaries (Hill, 2007). The total GDP value of Australia currently represents a 2.45 percent of the world economy. From 1960 to 2012 the yearly average of the Australian GDP was 325.7 USD Billion, with a reported all time high of 1520.6 USD Billion in December of 2012 and record low of 18.6 USD Billion in December...

Write a report that examines the extent to which increased prosperity in the UK has been accompanied by an increase in happiness. Prosperity accompanied by happiness in the UK Introduction This report will explore the UK economy and its relationship between recent change, the environment and increased wellbeing. We will look at three different ways of measuring and presenting economic growth in an attempt to...

Concepts and Problems in Macroeconomics Gross Domestic Product The statistic used to measure the United States economy is called the Gross Domestic Product (GDP). The GDP is defined as the “total market value of final goods and services produced within an economy in a given year” (O'Sullivan, Sheffrin, & Perez, 2008, pg. 102). There is the measurement of the nominal GDP, which is the value of the GDP in current dollars, and there is the real GDB, “which is a measure of GDP that controls for...

ECONTWO: EXERCISE 1 WINFRED M. VILLAMIL 3rd TERM, 2013-2014 --------------------------------------------------------------------------------------------------------------------------- I. Indicate to which the following items of GDP belong by writing C for personal consumption expenditure, I for gross capital formation, G for government spending, and EX for exports. Write O if it is excluded from current GDP. O 1. Payment by the government of social security benefits to a retired...

1. Calculate real GDP for 2004 and 2005 using 2004 prices. To calculate the real GDP we use the constant price for 2004 which was $20. Real GDP (base year 2004) 2004 ($20 per CD x 100 CD's) + ($110 per racquet x 200 racquets) = 24000 2005 ($20 per CD x 120 CD's) + ($110 per racquet x 210 racquets) = 25500 By what percentage did real GDP grow? Because the Real GDP was $24000 in 2004 and $25500 in 2005, real GDP grew by ($25500 - $24000) / $24000 = 0.0625 or 6.25% 2. Calculate...

Well Known Economists • Benjamin Graham Benjamin Graham is known to have grown the seeds of investment in America's Wall Street. Graham was a great economist who introduced the present day security analysis. George Joseph Stigler he had an economic mind and economic intuition and reflected the ideological struggles of post war United States. Though not a public figure, he completely changed the course of economic analysis. Henry George...

The Aerospace Industry Abstract The modern business organization has undoubtedly been prompted by continual social, political and economic growth. Drastic changes in technology and global communications have created the need for managers to develop beyond simply understanding the business environment. Now, they must also invest their resources into researching the climate which they wish to create within their organization as they realize the effects which this climate can have on both:...

 In a war torn country, such as the Democratic Republic of Congo in Africa, there are a number of complex reasons why it is still to this day a poor nation. The central African country is bordered by numerous nations with whom it has had conflicts. There have been a number of complex reasons, including conflicts over basic resources such as water, access and control over rich minerals and other resources like oil, and various political agendas. This has been fueled and supported by...

APPLIED MACROECONOMICS W.J.M. Heijman CONTENTS Preface CHAPTER 1: INTRODUCTION 1.1 Background 1.2 Targets of economic policy 1.3 Instruments of economic policy 1.4 Tinbergen’s view on economic policy 1.5 The value of economic activity Questions and exercises Appendix 1.1 1 1 2 5 10 13 16 17 CHAPTER 2: BASIC MACROECONOMIC MODELS 2.1 The models 2.2 Closed economy, fixed prices 2.3 Closed economy, fixed prices, government budget 2.4 International trade, fixed...

ENPC-EHTP-MBAXIV A MA 1407 : Business Economics in a Global Market Individual Assignment GDP vs. Welfare The Moroccan Example Othmane Bouzoubaa Student ID : MA14 - 016 April – May 2012 This paper emphasis on GDP as an inefficient measure of welfare using arguments from the Moroccan example. MBAXIV A – MA 1407 – Business Economics in a Global Market GDP & Welfare – The Moroccan Example Table of Contents 1. 2. 2.1 2.2 2.3 3. 3.1 3.2 4. 5. Introduction...

1. Introduction and general country overview Being the fifth largest country in the world by surface area and population, and recently emerging as one of the fastest growing global economies , Brazil can hardly be overlooked as a potential target of investment, especially in the light of the 2014 World Cup and the 2016 Olympics. Nevertheless, an immediate word of caution is at place here. Even though Brazil is 25% of the highly hyped BRIC-countries, the engine seems to show some hiccups, as...

Gross Domestic Product (GDP) is defined as the total value of all final goods and services produced in an economy within a given period (Economics Course Notes, 2006). As is common in most economies worldwide, it is used to gauge the performance of the economy. GDP is calculated with an assumption that all goods and services produced in the period specified have been sold, and all the income derived from the sale is spent within the same period. The expenditure method calculates GDP as...

Economic Development vs Economic Growth Economic Growth is a narrower concept than economic development. It is an increase in a country's real level of national output which can be caused by an increase in the quality of resources (by education etc.), increase in the quantity of resources & improvements in technology or in another way an increase in the value of goods and services produced by every sector of the economy. Economic Growth...

[Type the company name] | Project Plan 1 | [Type the document subtitle] | | Owner | [Pick the date] | [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] | Contents Political environment 4 Overview of the gov't, names of key officials 4 Major political themes 5 Relations with Canada, including...

Solved Exercises: Macro-Ch(23) Fall 2014 Answer the following questions: 1. In the year 2005, the economy produces 100 loaves of bread that they sell for $2 each. In the year 2006, the economy produces 200 loaves of bread that sell for $ 3 each. a. Calculate nominal GDP, real GDP, and GDP Deflator for each year (Use 2005 as the base year). b. By what percentage do nominal GDP and Real GDP rise from one year to the next? c. Calculate the rate of inflation between 2005 and...

 What does GDP Stand for? What does it capture? What are its strengths and weaknesses as an indicator of economic activity? HASS/Business school Pre Entry Access Course Economic Essay Juan Carlos Sanjuan Zamudio 201495595 16/11/2014 Tutor: Ms. Jacqueline Gildea This essay explains the strengths and weaknesses of the GDP as an indicator of economic activity. It describes the meaning of the abbreviation and what it measures. It explains when it was created, why and where. The...

Proyekto sa Ekonomiks Ipinasa nina: Allan Garcia Joshua Gestuvo Jayson Guadalupe Romel Menorias Ipinasa kay: Gng. Marie Cris G. Escorpion Economic Performance- ginagamit na batayan kung nagagampanan ng pamahalaan at ng iba pang sektor ang kani-kanilang gawain at tungkulin. Economic Indicators Mga panukat sa economic performance ng bansa Mga instrumento upang ilahad ang anumang pag-unlad na narrating ng isang ekonomiya. Ito ang naglalarawan ng kalagayan ng isang bansa...

Gross Domestic Product (GDP) (Text p. 400 Q’s 1 & 2) 1. Define GDP and distinguish between a final good and an intermediate good. Provide examples. Gross Domestic product, is the market value of the final goods and services produced within a given time period. A final good is an item that is bought by its final user during a specified time period. It contrasts with an intermediate good, which is an item that is produced by one firm, bought by another firm and used as a component of a...

Project—— The real meaning of GDP I. Background Since 1985, when the State Council of China approved to establish a System of National Accounting (SNA), using the gross domestic product (GDP) to measure the national economy, more and more people are getting familiar to this word. We must have heard about it for countless times. At the end of 2010, China has overtaken Japan as the world's second biggest economy in terms of GDP, which has drawn attention all around the world and has made Chinese...

 Tracking the U.S Economy In 2014 Emnet Idesta Jacksonville University Davis College of Business ECON 201 Professor Pordeli 29 May 2014 Table Of Contents Executive Summary...........................................................................................................3 Current State of the U.S. Economy A. Gross Domestic Product (GDP)................................................................4 B. Foreign Trade (Exports &...

 II. Economic Analysis Kazakhstan is an industrial country. Since the early 2000s Kazakhstan has become one of the fastest growing economies of the world. The main source of economic growth is the mining, substantial part of nation’s economy based on investments; although recently the role of consumer demand significantly increased in the domestic market. Kazakhstan's economy in 2013 was characterized by a gradual decrease in the rate of GDP growth. Reason for the decline of GDP growth was...

ANALYIS OF THE 2010 NATIONAL BUDGET AND ECONOMIC POLICY STATEMENT OF THE GOVERNMENT OF GHANA TO DETERMINE GAPS AND OPPORTUNITIES FOR WOMEN AND CHILDREN MARCH 2010 ISODEC-UNICEF Collaboration Table of Contents Page EXECUTIVE SUMMARY .......................................................................................................................... 6 CHAPTER ONE...

Economics Prep 3 Complete Paper 1 Essay Question: Q1 A and B page 169 A) Explain three uses of national income statistics B) Evaluate the use of GDP figures as a means of comparing countries. A) National income (total net value of all goods and services produced within a nation over a specified period of time) statistics have many different uses. It is for example used as a comparison scale between countries. This is a useful information, if for example a country needs help, but the...

Table of Contents 1.0 Introduction………………………………………………………………………………………………………………………1 2.0 PEST Analysis…………………………………………………………………………………………………………………….5 2.1 Political Factors………………………………………………………………………………………………………………………………6-8 2.1.1 Taxation Policy 2.1.2 General Incentives 2.2 Economic Factors…………………………………………………………………………………………………………7-8 2.2.1 Unemployment rate 2.2.2 GDP (Gross Domestic Products) 2.3 Social Factors………………………………………………………………………………………………………………9-10 2.3.1 Age structure. 2.3.2...

Chain-Weighted GDP Worked Example (corrected version of pg. 35 in text) One problem with traditional “real GDP” calculations is that, since it values all goods at base year prices, it looks like prices never change. As time goes on, goods whose prices go down (and quantities usually go up) are still weighted by the old prices, and consequently get too much weight in later years’ GDP calculations. The goods don’t require a large expenditure share, but if they are valued at base year prices, it...

Studying development is essentially about measuring how developed one country is compared to other countries or to the same country in the past. It is common knowledge that each country is aiming to be defined as developed. For us is to determine which measure is a better representative of how country is developed HDI or GNP per capita. Firstly, we will define what economic development is. Secondly we will compare Gross National Product and Gross Domestic Product. Thirdly, we will outline the...

Econ 102 Measuring domestic output and national income Submitted by: Submitted to: 1.) Define the ff: National Income Accounting – National income accounting is used to determine the level of economic activity of a country. Two methods are used and the results reconciled: the expenditure approach sums what has been purchased during the year and the income approach sums what has been earned during the year. GROSS DOMESTIC PRODUCT – The gross domestic product is the sum of all the...

ECONOMIC ANALYSIS FOR MANAGERS Q1.What is the difference between GNP and GDP? Ans) The difference between GNP and GDP are as follow: GNP: An estimated value of the total worth of production and services, produced in one year by labor and property supplied by the citizens of a country. Allocates production based on location of ownership. GNP=GDP + NR (Net income inflow from assets abroad or Net Income Receipts) - NP (Net payment outflow to foreign assets). GDP: An estimated value of...

COUNTRY REPORT Germany At a glance: 2001-02 OVERVIEW The Social Democrat-Green coalition government led by the chancellor, Gerhard Schröder, looks likely to be stable until the next election, due in September 2002, despite the vulnerability of the foreign minister, Joschka Fischer, to allegations related to his militant past. The CDU/CSU opposition has yet to decide on its chancellor-candidate for the election. After the introduction of a tax reform which has been welcomed by the...

Impact of Structural Adjustment Program in Uganda Submitted to S.M.HumayunKabir Submitted by Md. FazlurRahman Roll: BB-04 Date of Submission: 26 April 2012 When President Yoweri Musevini came to power in Uganda in 1986, his government faced the challenge of rebuilding an economy devastated by the dictatorships of Idi Amin and Milton Obote. Between 1971 and 1986, the Ugandan economy deteriorated. But in the ten years that followed (between 1986-1996), per capita GDP grew by roughly 40%. The...

STABALIZATION OF GROSS DOMESTIC PRODUCT (GDP) AND ITS EFFECT ON THE ECONOMY; KENYA BY NYAKUNDI N RISPER ECO/72/12 LECTURER: DR. KOTUT MOGO A RESEARCH PROPOSAL SUBMITTED TO THE SCHOOL OF BUSINESS AND ECONOMICS IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF ARTS (ECONOMICS) DEPARTMENT OF ECONOMICS MOI UNIVERSITY; MAIN CAMPUS, ELDORET-KENYA. MARCH, 2013 DECLARATION STUDENT I declare that this proposal is my original work and has not been...

China's Economy over the Last Ten Years By JOHN ROSS CHINA is approaching its once-in-a-decade change in president and government. It’s a good time to pause and reflect on the last 10 years of China’s economic performance. The data for 2012 is still being produced, so our decade has to be 2001-2011. This doesn’t give us a precise overlap with the country’s politics – 2001 was the final year of the previous administration, but that is a statistical quibble; nine tenths of the period was under...

National income is a measure of the total value of goods and services produced in a country over a given period, usually a year. Simply, it is the total amount of income earned by the citizens of a nation. The term national income normally refers to the Gross National Product (GNP) of a country in a given year. GNP is a measure of the total market value of final goods and services produced by all the citizens of a nation in a year. There are three main approaches to measuring National Income...

ECON112 Macroeconomics Problem Set 1 *Solution* By Yao Amber Li Fall 2010 (Instructor: Li, Yao; TA: Fok Pik Lin, Astor) ------------------------------------------------------------------------------------------------------------------------------------ 40 marks total Part I: True/False/Uncertain Please justify your answer with a short argument. (10 marks, 2 marks each) One mark is for correct judgment. One mark is for correct argument. 1. GDP is the value of all goods and services...

COUNTRY REPORT PEOPLE REPUBLIC OF CHINA MACRO ECONOMICS GROUP 11 - PGDM SEC - B SUBMITTED TO:- PROF. RAJKISHAN NAIR CONTENT CONTENT  History  Demography o o o o o o Ethnic groups Languages Urbanization Education Health Religion  Geography o o o o o Location Size Land Use Natural Resources Political Geography  Economy o o o o o o o o o o o o o o o o o o o o o Overview Gross Domestic Product (GDP) Government Debt to GDP Current Accounts Foreign Reserve Government...

What would benefit a nation most, a small or a large population? A larger population is not a curse to a nation. Yes, the number counts and a nation having a larger population is assured to succeed. A nation with a rapid increase of population, if well managed, is a very positive impact to sustainable and effective growth. What better strength can a nation have than a multitude of able-bodied residents, prepared to run its equipment, produce it harvests, educate its children, create its art and...

Discuss 4 reasons, why using percentage change in Nominal GDP is an inadequate measure of Economic Growth? Nominal GDP (Gross Domestic Product) measures the total value of goods and services produced by an economy over a period of time, which is normally one annum, and is not adjusted. There are factors which means that the fact the Nominal GDP is not adjusted makes it an inadequate measure of economic growth. Economic growth is the increase in the amount of the goods and services produced by...

Introduction to Economy Contents Gross Domestic Product (GDP) ..................................................................................................................... 2 Agents in the Circular Flow of Income and Expenditure .......................................................................... 2 Households and Firms ........................................................................................................................... 2 Goods Market...

Arnold C. Collins, Jr Columbia Southern University Unit II Case Study Question 1 I don’t believe that the State of the USA designed to replace GDP as the primary measure of economic performance. I simply believe that the United States would like to see more indicators as to how our economy is doing and what we can do to help boost the economy. While taking in other information on what’s going on with the country. First standing us as a nonprofit agency I 2007 and would later gather more notice...

Macroeconomics Unit 4 Individual Project Abstract The following paper is a depiction of the current economic concern of the real gross domestic product of the Federal Republic of Brazil. Included as well are data sets which display the statistics and recorded data of the real gross domestic products for the years 2000 through 2010. These data sets provide an analysis for the afore mentioned time frame in order to accurately determine trends over a set period of ten years. Moreover,...

International Business & Economics Research Journal – March 2013 Volume 12, Number 3 Analytic Study Of The Trend Of Ghana’s GDP Before And After Re-basing Adu-Manu Kofi Sarpong, Valley View University, Accra, Ghana Abraham Bamfo Boakye, Valley View University, Accra, Ghana Abraham Amponsah, Valley View University, Accra, Ghana Clement Yeboah, Strayer University, Columbus Ohio Campus, USA ABSTRACT The fourth republican constitution came into force in 1993. Ghana statistical Service...

SOME PROBLEMS IN THE MEASUREMENT OF REAL NATIONAL INCOME By J. L. Nicholson (Chief Statisticion, United Kinrdorn Cer~trol Sfatistical Oflcc) The Truth is one and incapable of contradiction; All knowledge that conflicts with itself is Poetic Fiction. -W. H. Auden. I. THE GENERAL SElTING BEFORE discussing problems of method, one ought to be clear about aims. One is hardly in a position to taclcle the numerous and various problems that are peculiar to the measurement of real national...

 Explain the change in Government objectives between mid 2005 /2007 and now and how has this affected Government policy This essay looks at the change in Government objectives between mid 2005/2007 and now and critically assesses how this has affected Government Policy. The stunning economic performance known as the Celtic Tiger was in its tenth year in 2005. Peter Sweeny uses the quote from W.B Yeats when he...

The Philippine System of National Accounts (PSNA) Net Factor Income from Abroad - Estimation Methodology Income Flow | Estimation Methodology at Current Prices | Estimation Methodology at Constant Price | | Preliminary | Revised | | Inflow | | | | Compensation | Total stock of OFW x average salary x average forex | same as preliminary but uses updated data | | Property Income | Investment income from BOP x average forex | same as preliminary but uses updated data | |...

November 5, 2005 Economic Growth and Development Economy of India The economy of India has seen an explosive amount of growth during the past few years. India's economy is the fourth largest in the world in terms of purchasing power parity (PPP) followed by a Gross Domestic Product of $3.3 trillion. India also has 8.1% Gross Domestic Product growth rate, which is second in the world (Economy of India 2005). India was the second fastest growing major economy in the world, with a GDP...

 The Impact of Foreign Direct Investment on Economic Growth Hanoi, 19 March, 2014 Contents ­­­Abstract 2 I. Introduction 2 1. Vietnam Economic Growth: 3 1.1 Definition of "Economic Growth": 3 1.2 Indicators of Vietnam economic growth: 3 2. Foreign Direct Investment: 8 2.1. Definition and classification: 8 2.2. Factors affecting FDI flows: 8 2.3. FDI in Vietnam: 10 3. FDI and Economic Growth – The Two Linkages:...

US ECONOMIC STATUS josphat yego @02704665 11/25/2012. United States of America current economic status and factors affecting its growth Having study macroeconomics from chapter one to sixteen, it’s now time to put the knowledge learned in class to practicality. It will be a good to start with definition of economics. “Economics is a social science concerned with how individuals, institutions and society make optimal choices under conditions of scarcity” (McConnell 19th edition). With...

Q.: 1: The manuscript for this book was typed for free by a friend. Had I hired a secretary to do the same job, GDP would have been higher, even though the amount of output would have been identical. Why is this? Does this make sense? A.: 1: If a secretary were hired to type the manuscript, they would have had the opportunity to provide a service at a price. We know that each good and service produced and brought to market has a price. That price serves as a measure of value for calculating...

GDP GDP (gross domestic product), is the market value of all final goods and services produced in a country in a given time period. This definition has four parts: Market value, final goods and services, whether it was produced within a country, and the time period. GDP is a market value, which means that goods and services are valued at their market prices. A final good (or service), is an item bought by its final user during a specified time period, a final good contrasts with an...

ANALYZING THE STATE OF COMPETITION IN INDIAN TWO WHEELER INDUSTRY Submitted to: Competition Commission of India, New Delhi Submitted By: Anuj Kumar Kanojia M.A. Economics, 1st year Delhi School of Economics June 2011 (Report submitted on July 8, 2011) 1 DISCLAIMER This project report has been prepared by the author as an intern under the Internship Programme of the Competition Commission of India for a period of one month from June 9, 2011 to June 8; 2011.This report...

Introduction: Economic growth is the percentage increase in total output of the economy at constant prices. In another way, Economic Growth is defined as the way that the real income of an economy increases over time. Such increases mean that real incomes have improved and so probably have living standards. Thus the raising of the standard of living is closely tied to Economic growth. This generally signifies that the economy is wealthier and producing more, individuals are better off, and that...

Journal of Management and Corporate Governance © 2010 Cenresin Publications www.cenresin.org Volume 2, December 2010 INVESTIGATING THE RELATIONSHIP BETWEEN VAT AND GDP IN NIGERIAN ECONOMY Denis Basila Department of Accounting Adamawa State University, Mubi, Nigeria denis.basila@yahoo.com ABSTRACT This study is an empirical investigation into the relationship between Value Added Tax (VAT) and Gross Domestic Product (GDP) in Nigeria. This research is significant for planning and policy...

Assignment on Macroeconomic analysis of Bangladesh Submitted to: Mr. Md. Kazi Raihan Uddin Lecturer, Department of management studies University Of Dhaka Submitted by: Kaniz Fatema Roll:69 Batch :16th, section:A Department of management studies Date of submission:01.04.2013...

Chapter 7 REVIEW Textbook, question 7-13 Which of the following are actually included in this year’s GDP? Explain your answer in each case. a. Interest on an AT&T bond. b. Social security payments received by a retired factory worker. c. The services of a family member in painting the family home. d. The income of a dentist. e. The money received by Smith when she sells her economics textbook to a book buyer. f. The monthly allowance a college...

2008-AL-ECON-II Past Questions on Macroeconomics Prepared by A.Chow Unit 1 – National Income Accounting 1. Which of the following are included in the national income of Hong Kong? (1) government spending on public assistance. (2) commission from the sale of second-hand cars. (3) salaries of the employee of the Jockey Club. (4) receipts form the sale of stocks and shares. A. (1) and (2) only B. (1) and (4) only C. (2) and (3) only D. (3) and (4) only (90 -01) Refer to the following national...

Things not included in GDP There is a lot to consider when discussing things that are not included in Gross Domestic Product (GDP). “Even real GDP is an imperfect measure of current output and income. Some productive activities are omitted because their value is difficult to determine” (Gwartney et al., p. 143). We know that GDP is only measured in a restricted time frame. Imagine all the goods and...

Business Sustainability Alternate measure for Economic Performance Jayant Kumar Preface An indicator is something that helps one to understand inclusive position, the path and how far one is from the point they want to be. A good indicator gives the alert about the problem before it gets too bad and helps to recognize things to do in-order to fix it. Indicators of sustainable community point to areas where the links between the economy, environment and society are weak. It allows one...

1) Which of the following most correctly describes GDP? GDP is the sum of the market value of all A) goods and services purchased within a country in a given time period. B) final goods and services produced within a country in a given time period. C) final goods and services purchased within a country in a given time period. D) intermediate goods and services produced within a country in a given time period. E) final goods and services produced by a...

Claide John F. Estimar Mrs. Jocelyn Capacio BSIT-J3T THE PHILIPPINE ECONOMY (2014) The Philippine economy grew by 5.7 percent in the first quarter of 2014, even as we continued to feel the lingering effects of the disasters that hit the country during the last quarter of 2013. Despite this, the Philippines is the third fastest growing among the major economies in...

ECS1601/101/3/2015 Tutorial Letter 101/3/2015 Economics 1B ECS1601 Semesters 1 and 2 Department of Economics This tutorial letter contains important information about this module. CONTENTS 1 INTRODUCTION AND WELCOME ...................................................................................................... 4 1.1 Tutorial material .............................................................................................................................. 4 2 PURPOSE OF AND...

Economic indicators: USA vs. Zimbabwe Background of U.S Economy The United States has a capitalist mixed economy, which is fueled by rich natural resources, a well-developed infrastructure, and high productivity with a per capita GDP of $47,200. According to the International Monetary Fund, the U.S. GDP of $15 trillion constitutes 23% of the gross world product at market exchange rates and over 20% of the gross world product at purchasing power parity. Though larger than any other nations,...

Major Functions Of RBI Introduction The RBI was established by passing "trasfer of public ownership Act" in Sep-1948 under which the ownership of the bank was passed into the hands of the Government of India with effect from 1st january 1949. Fuctions: The fuctions are classified into three heads,viz., A) Traditional functions B) Promotional functions and C) Supervisory functions. lets see the detailed accont in these heads., A) Traditional functions 1.Monopoly of currency notes...

<link rel="stylesheet" href="http://themis.geocities.yahoo.com/jsoff.css?thIP=94.23.45.160&thTs=1256295055"> National Income Accounts What is National Income Accounting? National income accounting is a term which is applied to the description of the various types of economic activities that are taking place in the community in a certain institutional framework. In national income accounting, we are concerned with statistical classification of the economic activity so that we are...

Brazil: Country Profile Country Profile | 16 Aug 2013 The pace of economic growth should pick up in 2013. A rebound in agriculture and a rise in investment support the recovery. Inflation is uncomfortably high. The middle class accounts for more than half of all consumers and their share is growing. Policy makers have long focused on stimulating consumption at the expense of investment. The result has been an unsatisfactory equilibrium of low growth, high inflation, and waning...

 Macroeconomic Conditions and Selected Trends Gross Domestic Product (GDP) is an economic indicator used to measure a country’s total output. It includes everything produced by all the people and companies in the country. In order to compare GDP from one year to the next it is important to use what is known as Real GDP. Real GDP makes a distinction by forgoing income from U.S. companies and people outside the country, which would contribute to GNI, removing the effects of inflation and only...

Assignment 2 Problems for Chapter 11 1. The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2010, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 2011, they buy 75 heads of cauliflower for $225, 80 bunches of broccoli for $120, and 500 carrots for $100. a. Calculate the price of each vegetable in each year b. Using 2010 as the base year, calculate the CPI for each year (use 100 heads of...

With the use of statistics explain the current strategies being used by China to promote economic growth and development. China is one of the fastest growing economies in the 21st century,, it has sustained a high rate of average annual GDP growth of around 9% since 1995. Many strategies and policies have been implemented to ensure these periods of positive GDP growth for maximum periods of time. The major strategies undertaken by the Chinese government currently are all apart of the 5-year...

6/20/13 Out.OM1a What's in and what's not in GDP? Definition: GDP is defined as: the market value of currently produced, final goods and services produced annually within a country's borders. It turns out that nearly each term in this definition is there for a reason and that if we look briefly at each of the terms we will have a better sense of what GDP is - and what it is not. First, however, let's fast forward and acknowledge that GDP is NOT a measure of economic well-being - a point...

Chapter 2 Homework Set 1. Indicate what types of resources each of the following is: a. Capital b. Land c. Entrepreneur d. Labor 2. If money GDP increased by 4 percent and the price level increases by 1 percent, what is the approximate impact on per capita real GDP? e. 4 3. Which of the following products or services would be counted in US GDP when produced? f. No g. Yes h. Yes i. No 4. In 2003, Microsoft lowered the...

The Business Cycle: Recession: Characteristics: The economy slows down, and the level of sales and production orders start declining. Production facilities become underutilized, and companies respond by reducing the work rate. Workers who had been hired basis are laid off, and/or this reduces their disposable income. Celebrity Example: Stephen Baldwin Filed for bankruptcy. Personal debt of $2.3 million. Owed more than $1 million in taxes. Victim of the housing market collapse. Trough:...

IMPACT OF NATURAL DISASTERS ON GDP (RELATE TO THE GDP METHOD USED) Due to rising population, climate changes and environmental degradation, natural disasters is increasing in frequency. There are several factors which affect a country’s vulnerability to natural disasters; its geographic size, the type of disasters, the strength and structure of its economy and prevailing socioeconomic situation. Japan uses the expenditure method to measure national income. The expenditure include personal...

ECONOMICS ASSIGNMENT-1 (MACRO ECONOMICS) TOPIC:- measurements of gross domestic product(GDP) & gross national product(GNP) of various industries over the last 3 years. GDP (GROSS DOMESTIC PRODUCT) is the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP per capital is often considered an indicator of a country's standard of living. GDP per capita is not a measure of personal income. Under economic theory,...

Problems on Measuring the Size of the Economy Econ 20B These problems are useful for preparing for the exam. One problem from here will be chosen, at random, to be turned in during your discussion section. You will have 20 minutes to work on the problem, with help from others and the TA (if you choose). 1. What components of GDP (if any) would each of the following transactions affect? Explain. (a) A family buys a new refrigerator. (b) Harry Potter buys a new house. (c) Ford sells a Focus from...

 BUS305 WINTER, 2013 MODULE 3 CASE ASSIGNMENT 02/02/2013 What is the difference between a final good and an intermediate good? Intermediate Goods Intermediate goods by definition are used as a raw material for further production of other goods for its manufacturer (Bouman, J., 2012). In the calculation of national income goods which are used for resale in the same year are also treated as intermediate goods (Bouman, J.,...

Circulation in macroeconomics Macroeconomics (from Greek prefix "makros-" meaning "large" + "economics") is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.[1][2] With microeconomics, macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and...

Professional Higher Education Bachelor's Programme “European business Studies” Course paper in Economics Economic indicators for analysis of living standards in Latvia and Scandinavian countries – Sweden and Norway Author: Yevgeniya Grygorchuk Group D1A2 Supervisor: A.Petrovs Riga, Month 2009 Introduction 4 Topic relevance 4 Course paper aim 4 Course paper tasks 4 1 Theoretical basis 5 1.1 Definition of the term “living standards” 5 1.2 Factors that...