2006-08-24 20:45:30 · 7 answers · asked by 3mi 2 in Social Science ➔ Economics
To add to what others have said (essentially it is the value of all of the "stuff" produced in a year), the standard formula is:
GDP = C + I + G + NX
C = Consumption (stuff bought by consumers)
I = Investment (new houses bought by consumers, factories/machinery built by businesses)
G = Government expenditure
NX = Net exports (exports - imports)
2006-08-25 06:26:47 · answer #1 · answered by intelbarn 3 · 0⤊ 0⤋
GDP is the measure of the United States' or other country's economy; the total market value of goods and services produced by workers and capital during a given period (usually 1 year).
2006-08-24 20:52:35 · answer #2 · answered by Zeta 5 · 0⤊ 0⤋
Gross Domestic Product is a measure of the total economic activity occurring in the UK. It can be measured in three ways: Production Measures the Gross Domestic Product as the sum of all the Value Added by all activities which produce goods and services. (see Gross Value Added). Income (GDP(I)) Measures the Gross Domestic Product as the total of incomes earned from the production of goods and services. ...
2006-08-24 22:36:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Gross Domestic Product - the total amount of money earned/spent by a country in a year. It is used as a measure of a country's economy.
2006-08-24 20:48:48 · answer #4 · answered by NinjaPirate 4 · 0⤊ 0⤋
Gross Domestic Product- the value of goods produced and services provided in a country in one year
2006-08-24 20:48:02 · answer #5 · answered by Southie9 5 · 1⤊ 0⤋
Gross Domestic Product
By the way wait till you get to micro then it will really suck
2006-08-24 20:49:52 · answer #6 · answered by Lily 1 · 0⤊ 0⤋
And the real answer is: Gewerkschaft der Polizei.
2006-08-24 20:53:41 · answer #7 · answered by An Unhappy Yahoo User 4 · 0⤊ 0⤋