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The GDP is a number meant to represent the amount of activity of an economy. This can be portrayed as the employment rate, because wages are an indicator of the value of what is produced in a given period of working time, but more often, the GDP is represented as the value of all of the goods and services consumed. (Investment, Net Exports, and Government Spending are also key factors)
EX The US GDP as of Feb 20 2008, according to http://www.bankrate.com/brm/ratewatch/key-economics.asp
is assumed at 14,080.8 Billion Dollars. This means that the US is consuming 14,080.8 Billion Dollars worth of goods and services.
A Higher GDP means that the country is consuming more (and hopefully producing more). Lower means the opposite. If GDP is too low, then the country is not able to access as many goods and services as preferable. If GDP is too high, interest rates increase, making it harder to invest in future technologies, making the economy more exposed to crash.
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What does synthetic GDP mean?
. The synthetic GDP was calculated by the source's authors, and is a calculation of what a country's GDP per capita would have been had there been no EU
Can GDP be zero and if so what does that mean for the country with a zero GDP?
The GDP of a country - or even a large community - cannot be zero. Zero GDP implies that there is no output (goods or services), nobody spends anything (on things from inventories or imports), nobody earns anything.
What does figure math mean?
figure math means figure math
How to calculate the percentage change in real GDP?
[ (GDP 2006 - GDP 2005) / GDP 2005] X 100 ---- ----
What does to figure out the answer mean?
It means to have a question and to figure it out to solve the question.
If per capita GDP is growing does that mean that everyone is better off economically?
No per capita GDP is only an average figure it does not mean everyone is more prosperous
How do you convert Current GDP into real dollars?
Real GDP equals GDP in current dollars divided by the Implicit GDP price deflator, times one hundred. :)
What will India's GDP in India?
The current GDP of India is about 8.9
What is the present GDP and GNP of India?
current GDP rate
What is the US' current GDP?
The 2012 estimate for the US' GDP was $15,650,000,000,000.
Describe the difference between real and current GDP?
The current GDP is the value of all products and services produced in a country. The real GDP is the value of all the goods and services produced and are expressed in current prices in a country.
What will the country's GDP have to be in 10 years to maintain the current debt-to-GDP ratio?
$80 trillion
What is the current GDP rate of educatoin in India?
a
What is GDP at current factor cost?
34
What is the difference between current dollars and constant dollars?
While the Current Dollar or Nominal GDP does not account for changes in the rate of inflation from one period to another, knowing the figure can still be helpful in a couple of ways. First, the Current Dollar calculation represents the market value of goods and services that are produced in the economic period under consideration. In other words, the figure represents the reality of the worth of the goods at the time they were produced. Knowing this figure is helpful in understanding exactly what was happening within a given economy at that point in time. Often, this information can help explain economic trends that emerged in later periods and why they took place. Another benefit of knowing Current Dollar GDP is that it forms the basis for comparing the actual or real amount of growth that took place between two different economic periods. By dividing Current Dollar GDP by what is known as the GDP deflator, it is possible to allow for changes in the rate of inflation between two different years. Doing so allows comparisons of the Gross Domestic Product of two different periods in terms that truly demonstrate the relative value of goods and services between the two periods. It also helps show whether there was truly any growth in the economy. For example, assume the most recently completed economic period is identified as Year A, while the previous economic period is known as Year B. If the nominal, or Current Dollar, GDP for Year A is $100B in United States dollars and the GDP deflator is 5%, this makes the Real GDP for Year A $95.24B USD. If the Current GDP for Year B came to $92B USD, then true economic growth occurred. However, if Year B had a nominal, or Current, GDP of $96B USD, this formula will reveal that the economy declined, even though there was an increase in Current Dollar GDP from Year B to Year A.
. If economists calculate the GDP for 2009 using current prices of year 2009 what are they estimating?
nominal GDP
What will the country's GDP have to be in 25 years to maintain the current debt-to-GDP ratio?
800 billion dollars
