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GDP (Sources for GDP Data (The World Bank, The International Money Fund…
GDP
Sources for GDP Data
The World Bank
The International Money Fund (IMF)
Organization for Economic Cooperation and Development (OECD)
The Bureau of Economic Analysis (BEA)
an economic indicators
a leading
a coincident
a lagging
a composite index
GDP measurement
the flow-of-product approach
Y= C+I+G+X
the components of GDP
all expenditures of individuals
all spending of businesses for new capital goods
spending of all levels of government
net esports of goods and services
the earnings-and-cost approach
income included
business profits
wages and salaries
taxes the government receives for its services
interest on deposits
money received as rent
types of GDP measurements
GDP per capita
GDP growth rate
Nominal GDP
Real GDP
the types of products
not every good or service can be counted
only goods and services produced during a specific year are counted
only goods sold for the first time
total value of all goods and services produced by factors of production located in domestic economy