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Gross domestic product (GDP) is a monetary measure of the market value [2] of all the final goods and services produced and rendered in a specific time period by a country [3] or countries. [4] [5] [6] GDP is often used to measure the economic health of a country or region. [3]
Real gross domestic product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation). [1] This adjustment transforms the money-value measure, nominal GDP , into an index for quantity of total output.
NDP: Net domestic product is defined as "gross domestic product (GDP) minus depreciation of capital", [6] similar to NNP. GDP per capita: Gross domestic product per capita is the average market value rendered per person. GNI per capita: Gross national income per capita is related to average income per person and mean income.
Net national income is defined as gross domestic product plus net receipts of wages, salaries and property income from abroad, minus the depreciation of fixed capital assets (dwellings, buildings, machinery, transport equipment and physical infrastructure) through wear and tear and obsolescence. [2] It can be expressed as [3]
GDP stands for gross domestic product, the total monetary value of all final goods and services produced within the territory of a country over a particular period of time (quarterly or annually). Like the consumer price index (CPI), the GDP deflator is a measure of price inflation/deflation with respect to a specific base year; the GDP ...
Gross domestic product (GDP) is a measure of aggregate output. Nominal GDP in a particular period reflects prices that were current at the time, whereas real GDP compensates for inflation. Price indices and the U.S. National Income and Product Accounts are constructed from bundles
GDP stands for gross domestic product. GDP is a measure of the economic output of a country. It is usually defined as the total market value of goods and services produced within a given period after deducting the cost of goods and services used up in the process of production, but before allowances for depreciation.
Nominal GDI and Nominal gross domestic product (GDP) are exactly identical, yet real GDI and real gross domestic product (Real GDP) are different; real GDP is calculated by keeping the price of each domestic production constant between two years, while real GDI is calculated by deflating GDP with the purchasing power of money. As such, real GDI ...