usefulness of GDP as a measure of living standards‚ and as a way of comparing living standards i) across countries ii) across time. Gross Domestic Product (GDP) is the total market value of all goods and services produced in a country in a given year. It is equal to the total consumer‚ investment and government spending‚ plus the value of exports‚ minus the value of imports. The GDP report is released on the last day of each quarter and reflects the previous quarter. However‚ GDP is to a certain
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1. German economy overview Germany is the largest national economy in Europe‚ the fourth-largest by nominal GDP in the world‚ and fifth by GDP (PPP) in 2008. Since the age of industrialisation‚ the country has been a driver‚ innovator‚ and beneficiary of an ever more globalised economy. Germany is the world’s second largest exporter with $1.474 trillion‚ €1.06 trillion exported in 2011 (Eurozone countries are included). Exports account for more than one-third of national output. Germany
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rates of GDP per capita‚ electricity usage and life expectancy comparing to India. Switzerland is located in the northern hemisphere‚ in the continent of Europe. It is surrounded by countries such as France‚ Italy‚ Germany‚ etc. India is also located in the northern hemisphere in the continent of Asia. It is surrounded by countries such as Bangladesh‚ Sri Lanka‚ etc. The life expectancy of Switzerland is 82 years and the life expectancy of India is 65 years. In Switzerland‚ the GDP per capita
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Title Gross Domestic Product (GDP) is an inadequate measure of societal well-being and should be replaced by the Human Development Index (HDI) Abstract This paper will discuss the anomally of Human Development Index (HDI) and Gross Domestic Product (GDP). In this discussion I will argue for HDI as a fairer comparison of a country’s overall economic wealth health and social well-being rather than the generally accepted method used by most countries of GDP. HDI allows for a more comprehensive
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present South Africa – a country from Sub-Saharan African region. GDP and Growth rate South Africa experienced a lot of economic downturns since the 1980s. The graph bellow shows South Africa’s GDP growth rate – in 2009 it was -1.8% because of the financial crisis in the world. Since 2007 South Africa has experienced an electricity crisis which led to further economic downturns. The highest downturn since 1980‚ was in 1992‚ the GDP growth rate was -2.1% because of the South Africa’s gold mining crisis
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however this essay attempts to outline the areas where changes in policy decisions may have supported a faster economic recovery in Ireland’s case. The essay begins by outlining the economic reality in 2005 - 2007 and now in terms of growth rates‚ GNP‚ GDP figures‚ Unemployment statistics‚ Global competitive reports and other pertinent statistics. It then reviews government objectives and policies during this period. In exploring
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Gross Domestic Production (GDP) Definition of GDP The monetary value of all the finished goods and services produced within a country’s borders in a specific time period‚ though GDP is usually calculated on an annual basis. It includes all of private and public consumption‚ government outlays‚ investments and exports less imports that occur within a defined territory. GDP = C + G + I + NX where: "C" is equal to all private consumption‚ or consumer spending‚ in a nation’s economy "G" is
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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 lost
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any second hand goods‚ depreciation value of any goods and also goods and services from abroad. [Gross Domestic Product at Market Price = value of gross domestic output - value of intermediate consumption] 2) Gross National Product:- In short GNP is GDP plus net factor incomes earned from abroad. Here let us see what is net factor income or net foreign factor income with a example:- (Formally NFFI actually means the income of a business or even a nation which represents the difference between payments received
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THE INDIAN HIGH SCHOOL DUBAI YEAR 2013-14 Page 1 COMPILED BY HOD ECONOMICS MRS. CHANDRA R INDEX S NO 1 TOPIC PAGE NO 3 - 20 INTRODUCTION TO MACRO ECONOMICS 21 – 35 2 AGGREGATE DEMAND AND AGGREGATE SUPPLY 3 36 - 43 MONEY AND BANKING 4 44 - 49 GOVERNMENT BUDGET 5 49 - 58 BALANCE OF PAYMENT AND FOREIGN EXCHANGE 6 59- 66 BOARD PAPER 2013 DELHI 7 67 - 75 MARKING SCHEME Page 2 COMPILED BY HOD ECONOMICS MRS. CHANDRA R HANDBOOK
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