Expenditures Approach:
Gross Domestic Product (GDP) = C + I g+ G + Xn
Personal Consumption Expenditures (C)
Durable Consumer Goods (3 years or more)
Nondurable Consumer Goods (less than three years)
Consumer Expenditures for Services
Gross Private Domestic Investment (Ig)
Machinery, Equipment, Tools
All Construction (Residential and Business)
Inventory Changes
Government Purchases (G)
Net Exports (Xn)
Exports (X) - Imports (M)
Income (Earnings) Approach:
Add: "WRIPPT"
Compensation of Employees (Wages)
Rents
Interest
Proprietors' Income
Corporate Profits (Retained earnings, dividends, corporate taxes)
Taxes on Production and Imports
Equals: National Income:
Three changes:
Less: Net Foreign Factor Income (Income earned by Americans abroad minus income earned by foreigners in U.S)
Add: Statistical Discrepancy
Consumption of Fixed Capital (Depreciation)
Equals: Gross Domestic Product
Other significant numbers:
Start with Gross Domestic Product (GDP)
Less: Capital Consumption (Depreciation)
Equals: Net Domestic Product (NDP)
Less: Statistical Discrepancy
Add: Net Foreign Factor Income
Equals: National Income (NI)
Less: Taxes on Production and Imports
Social Security Contributions (Payroll Taxes)
Corporate Income Taxes
Undistributed Corporate Profits (Retained Earnings)
Add: Transfer Payments
Equals: Personal Income (PI)
Less: Personal Taxes
Equals: Disposable Income (DI) (Note: DI =C+S)
Macro economic is differ from micro economic because macro economic study as a whole economics but micro economic study only of an individual.
Yes, it is an economic issue and it is a macro economic indicator.
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The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
GDP.. this is the answer.
Social,economic sciences are macro where as to find that knower is known is micro philosophy
Macro economic is differ from micro economic because macro economic study as a whole economics but micro economic study only of an individual.
bank how to changes in macro economic police
Yes, it is an economic issue and it is a macro economic indicator.
In business, macro environmental forces include inflation, currency exchange rates, GDP growth and other factors. They also include unemployment and overall economic growth. This includes many factors that effect the environment on a larger scale.
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GDP is the Gross Domestic Product, a measure of all the economic value added of a country (or territory) over a specified period of time.
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
A country's GDP is the market-valued sum of all its economic activity.
GDP.. this is the answer.
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GDP..