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Gross domestic product (GDP) is a monetary measure of the total market value [1] of all the final goods and services produced and rendered in a specific time period by a country [2] or countries. [ 3 ] [ 4 ] [ 5 ] GDP is often used to measure the economic performance of a country or region. [ 2 ]
Continue reading ->The post GDP: Definition, Examples and Economic Usage appeared first on SmartAsset Blog. It’s used to gauge a nation’s economic growth and its people's standard of living ...
Measures of GDP typically exclude unpaid economic activity, most importantly domestic work such as childcare. This leads to distortions; for example, a paid nanny's income contributes to GDP, but an unpaid parent's time spent caring for children will not, even though they are both carrying out the same economic activity.
Condensed versions of the full Schaum's Outlines called "Easy Outlines" started to appear in the late 1990s, aimed primarily at high-school students, especially those taking AP courses. These typically feature the same explanatory material as their full-size counterparts, sometimes edited to omit advanced topics, but contain greatly reduced ...
One way to calculate Gross Domestic Product, or total net output, is the expenditure method. The GDP essentially tells you how big the economy is. The larger the GDP value, the bigger the economy. The expenditure approach involves looking at four main components: Consumer Spending, Government Spending, Investment Spending, and Net Exports. [18]
Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
The 2014 AP Chemistry exam was the first administration of a redesigned test as a result of a redesigning of the AP Chemistry course. The exam format is now different from the previous years, with 60 multiple choice questions (now with only four answer choices per question), 3 long free response questions, and 4 short free response questions.
Socialist economics – economic theories, practices and norms of hypothetical and existing socialist economic systems. Urban economics – economic study of urban areas; as such, it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance.