Gross Domestic Product (GDP). The sum of the flow of all final economic goods and services produced by the domestic economy during a relevant period of time. National Income Accounting.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
The sum of the flow of all final economic goods and services produced by the domestic economy during a relevant period of time.
The set of rules and techniques used for measuring the total flow of output (goods and services) produced and the total flow of incomes generated by this production.
Market Transactions: (wages, interest, rent, profits, ….);
Non-market Transactions: (income-in-kind, ….);
Imputations: (home consumption, rental value of owner occupied housing
Market Transactions: (illegal activities, used goods, stocks and bonds, underground economy, capital gains and losses, …);
Non-market Transactions: (value of house persons)GDP
Y = C + I + G + (X – M)
GDP = National Income
+ Indirect Business Taxes
+ Capital Consumption Allowances
+ Miscellaneous Adjustments
Business Transfer Payments
Inventory Valuation Adjustments
DPI = National Income
- Social Insurance: Employers’ Share
- Corporate Retained Earnings
- Corporate Taxes
+ Government Transfer Payments
+ Business Transfer Payments
+ Miscellaneous Payments to Individual
- Personal Taxes
Gross National Product (GNP):
GNP = GDP
+ Factor Payments From Abroad
- Factor Payments to Abroad
Net National Product (NNP):
NNP = GNP
- Capital Consumption Allowances
Real GDP = Nominal GDP / GDP Deflator
Nominal GDP a.k.a. Current Dollar GDP
Real DGP a.k.a. Constant Dollar GDP
GDP Deflator is A Price Index
An index or prices shows the average percentage change that has occurred in some group of prices over some period of time.