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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.
