The Is A Japanese Word For Higher Gross Domestic Product...

The Is A Japanese Word For Higher Gross Domestic Product...
Countries have always competed economically. The government pushes for higher Gross Domestic
Product, hoping that they will become the richest country. During economic crises, countries want to
recover and have stability. All of this means that employees must work longer and harder. However,
there are more consequences than countries realize. The more employees work, the more stressed they
become, lowering their well–being. Large epidemics begin spreading throughout nations. As countries
demand higher GDP, their people begin to suffering causing numerous deaths from overworking or
suicide due to stress. Karoshi is a Japanese word for the epidemic spreading throughout the world,
where people are worked to death. Instead of focusing on the population's well–being, countries are
only concerned with the economy, pushing employees to work long and stressful hours. The term,
karoshi, first appeared in the early 1980s, when Japan enter into their bubble economy. Karoshi is
defined as the, "'condition of being permanently unable to work or dead due to acutely ischemic heart
disease such as myocardial infraction, or acute heart failure caused by cerebral vascular diseases such as
cerebral hemorrhage, subarachnoid hemorrhage and cerebral infraction, because inherent health
problems such as hypertension and arteriosclerosis are deteriorated by excessive work overload'"
(Kanai). For a while, the Ministry of Health Labor and Welfare in Japan did not focus on the issue
because they
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The Gross Domestic Product ( Gdp )
The Gross domestic Product (GDP) as per the definition found in research refers to the total market
value of the total goods and services produced in the economy of The United States of America which
are produced and serviced in a given financial year which may be produced in the boundaries of the
nation. When transforming the GDP to real gross domestic product (RGDP), we adjust for the price
changes, which may also be referred to as Inflationary pressures. This is because inflation or its
opposite deflation is pegged to the 2009 US dollar value. The Annual percentage change of Real GDP
starting from 2014 shows a sine wave trend, with years coming after 2015–2019 showing a fall in the
annual real GDP which may be seen with a grain of salt ... Show more content on Helpwriting.net ...
As gains from incomes and jobs are realized the demand for all the items listed above is likely to
increase making the economy stronger. (Payne) (See Exhibit 3–4). As per historical data of the US from
1990–2014 (See Exhibit 5) the deceleration of the Real GDP in 2011 is mainly because of the
downturns in Fed spending and private inventory investment. Also this is because of a deceleration in
exports which were balanced partly by the deceleration in the imports of goods and services and
acceleration in the fixed investment, mainly non–residential. (Statistica) Based on the above data
gathered from multiple credible sources we suggest that the percentage changes in real GDP will
increase in the coming four five years. The value which we predict that the variable will take is about or
in between the value of 2–3%.This value is based on the factors which have been mentioned before. The
trends which these factors will take will in reality lead to the true value but based on the previous
forecasts and historical data it can be safely assumed that the value we have suggested will be nearer to
the true value with a small amount of random error involved in the value. Also the value will only
fluctuate drastically from the true value if any unforeseeable or uncontrolled factors like natural
disasters, multinational bankruptcy or war takes place with in the nation or between two nations.
The annual percentage

Fundamentals of Macroeconomics: Gross Domestic Product
Part 1 In this section, I seek to offer a concise definition of a number of key economic terms. Gross
Domestic Product (GDP) In basic terms, GDP is an estimate of a nation's total economic output. In that
regard, GDP can be used as a fairly accurate measure of a country's economic health and living
standards. Typically, the GDP of a nation is computed on an annual basis. In my definition of GDP
above, I label it an "estimate" of a nation's total output as the same fails to capture a country's
underground economy. Real GDP and Nominal GDP Real GDP is essentially a measure of a nation's
total economic output in which case adjustments are made to reflect changes in the price levels of goods
and services. In that regard, real GDP (unlike nominal GDP) is the nation's total economic output
expressed as per the prices of a specified year commonly referred to as the base year. To get a clearer
picture of what real GDP actually is, we need to differentiate it from nominal GDP. In the words of
Baumol and Blinder (2011), "nominal GDP is calculated by valuing all outputs at current prices." It
does not therefore take into consideration price changes. A certain year's real GDP should therefore be
lower than the same year's nominal GDP. This is largely the case given that the latter measure is not
adjusted for inflation. Unemployment Rate This can generally be defined as the ratio of those who are
unemployed to the total civilian labor force. The resulting figure should in this

What Is Gross Domestic Product?
What is Gross Domestic Product?
Jordan Power
ECO2013
Mark Thompson
February 1, 2016
Gross Domestic Product is the total amount of the government's activity is regards to the economic
spending. This amount is a cumulative of four different parts. The four factors involved in Gross
Domestic Product are consumption, investment, government spending, and the amount of exports minus
the imports. All of these parts make up what Simon Kruznets named Gross Domestic Product in 1937.
Kruznets was born in 1901 on April 30 in Pinsk, Russia. Before his death, on July 8th, 1985 in
Cambridge, MA, he received his degree from Harvard Law. From there, Kruzets became an economist
for the National Bureau of Economic Research. In 1971, Simon Kruznest received a Nobel Prize for his
measurement in national income accounting. His innovative involvement in working to create a
simplified solution to account for all the government activity was also a major reason for him being
awarded with a Nobel Prize. He was not only concerned with the economic growth of the United States,
but also that of poor countries. Simon Kruznets found out ways to improve those countries economy
based on his findings, regarding the growth and difference of disparity between rich and poor people.
During all of this, Kruznets taught economics at Harvard, Johns Hopkins and the University of
Pennsylvania. Although Simon Kruznets was a major player in the

Macroeconomics Inflation, Unemployment And Gross Domestic...
Hello classmates,
In this week's lesson we learn about the three primary concerns when analyzing macroeconomics
inflation, unemployment and gross domestic product (GDP). When discussing inflation in the economy
we understand that it is a major factor that it plays in today's economy. For example, when the price of a
specific item or service is inflated the less your money will allow you to buy. Little inflation is good for
the economy because this will allow companies to raise their employee's hourly wages. Too much
inflation could be caused by the high demand for goods or service. Therefore, if the demand is high and
the production is the same the price of the supply will increase. Consumers will continue to spend their
money because they

The Effects Of Macroeconomics On Gross Domestic Product
Introduction One of the outstanding elements of macroeconomics is Gross Domestic Product (GDP). In
the last five decades, this element has been embraced as an acceptable meter for economic growth
(Constanza et al., 2009) and remains the best indicator of standard of living of a country. Ghana, a
developing country west of sub–Saharan Africa is not in isolation and different from others. It is an
undeniable truth that Ghana?s economy has not grown much since the early 1960s after her
independence (Aryeetey et al., 2000). Over the years, Ghana 's economic growth has been pegged at 3%
to 4% (Institute of Economic Affairs , 2006). However, in 2011, Ghana recorded a higher Gross
Domestic Product growth of about 14.5.0% (Data.worldbank.org, 2016). Nevertheless, this growth has
not been sustained over the subsequent years. Gross Domestic Product growth has been 4%, 8%, 15%,
7.9%, 5.4% and 4.2% for consecutive years from 2009 to 2014 respectively (IMF, 2015).. From the
statistics, it is very evident that GDP growth in Ghana has been undulating. The statistics can be
ascribed to the financial contributions that various sectors such as the real sector including the services
sector, the external sector and the monetary sector make to the economy. Notwithstanding this, over the
years, the major contributor to Ghana?s economy has been the service sector (Ghana Statistical Service,
2013; Ghana Statistical Service, 2012) about 50.2% of the total real sector contribution to the GDP

Gross Domestic Product: What It Is and What It Means
Gross Domestic Product: What it Is and What it Means Almost any substantial economic report or
forecast will mention the words "Gross Domestic Product" or more commonly "GDP" at least once, if
not a dozen times, citing it as an important measure and/or predictor of economic growth and health.
Because the term is so frequently used, it might be easy to identify as something of especial importance
in large–scale economic considerations, but that does not mean that the term or what it describes is well
understood. The following paragraphs present a brief overview of what economists, reporters, and
politicians are talking about when they refer to GDP, and how this measurement can be used to assess
and predict large–scale economic events and trajectories. Gross Domestic Product (GDP hereafter) is,
simply put, a measure of the overall size of an economy expressed as a numerical value, and there are
three ways to measure GDP that should all theoretically deliver the same value when applied to the
same economy (Curry, 2011). First and most commonly, GDP can be measured as the total value of all
goods and services produced across all sectors of an economy, from private businesses to government
spending this is known as an output measure (Curry, 2011; Amadeo, 2012). Second, GDP can be
derived as a measure of expenditure, totaling the value of all goods and services consumed or paid for
within an economy, including the value of all exports less the value of all imports, meaning

Gross Domestic Product ( Gdp ) Of A Nation
Gross Domestic Product
Gross domestic product (GDP) of a nation is comprised of four primary components. These
components; consumption, investment, government spending and net exports are the measure of the
monetary value of all the finished goods and services produced within a country 's borders in over a
given period of time. This can be broken down in any time frame but is normally used quarterly and
annually. The GDP can be calculated as; GDP (Y) = consumption (C) + investment (I) + government
spending (G) + net exports (NX) or Y=C+I+G+NX. The key word here is finished goods and not all
goods.
Household consumption, one of the four components of calculating the GDP of a nation has a broad
range of items included in it. With the exception of the cost of buying a used house, most all durable
and nondurable goods are measured within this.The money a family spends on goods and services
include everything from haircuts to education. Durable goods would be vehicles for transportation and
all of the items that one buys to furnish a home. Items big and small regardless of brand or cost are
factored in this component. If one was to buy and new set of appliances for a kitchen and a broom to
sweep the floor, they are both used in this calculation. If one was to save this money for a while longer
it would make the overall GDP lower than if the items were purchased. Education is often thought of as
an investment in ones future but it is considered consumption by means of an

The Real Gross Domestic Product
The Real Gross Domestic Product (RGDP) is a measure with inflation adjusted that considers the value
of all goods and services manufactured in a designated year, which is indicated in a base year prices.
This is also known as the inflation corrected GDP, or constant dollar GDP. On the other hand, a figure
that has not been adjusted for inflation is known at the Nominal Gross Domestic Product (NGDP). Also
known as the current dollar GDP. A GDP is the one figure that indicates the health of a country's
economy. A healthy economy is when you will normally see wage increases and low unemployment as
businesses demand more labor to fulfill the growing economy. A GDP will appear higher than it actually
is, if the inflation is not accounted for in ... Show more content on Helpwriting.net ...
Also which made them available to borrow even more against the equity in their houses. So people just
kept buying and buying, but they didn 't realize that they were also increasing their personal debt, which
eventually became unpayable. Interest had to be paid on all the loans that the banks made, but with the
debts rising quicker than incomes, people were unable to keep up. So people just stopped repaying their
loans and made banks in danger of going bankrupt. People started to sell their houses in order to repay
the loans, which caused the pricing of houses to go down. Then banks started to cut lending to
businesses and households, which caused prices in the markets to drop. Also leading to unemployment
when these institutions and banks were closed; which is when the downturn began. After the 2007–09
years, from 2010 till 2014, the GDP growth rate is back on the positive side. The most recent RGDP
figures shows a decrease at an annual rate of 0.2 percent in the first quarter of this year, according to the
"third" estimate released by the Bureau of Economic Analysis. This "third" estimated release is based on
a more complete source data than were available for the "second" estimated issue. This data shows that
imports were increased more and exports were decreased less than previously estimated. A GDP is
usually quoted as a

Gross Domestic Product ( Gdp )
Gross Domestic Product (GDP) is a description of a nation's production levels for a period of time, as
well as a measurement of economic viability. It is calculated by adding the consumption, investments,
governmental outlays, and net exports of a nation in either one year or a quarter. The different
components of GDP are at differing levels in each nation. China and Germany, for example, have
substantial net exports, and Singapore comparatively relies much more on government outlays to grow
its economy. Although the latter uses more governmental outlays than most nations, all nations to some
degree make attempts to alleviate economic downturns, as well as to maximize upward movement.
Though there must be concern for issues such as the notorious crowding out effect, government activity
is often the catalyst to dramatic changes in the economy. The previous example of China as an exporter
is true, however it must be noted that it too relies heavily on government expenditures to create a stable
economy that has the financial infrastructure to grow. As a matter of fact, all the Economic Tiger
nations had to use government planning to change their course from being impoverished nations, to
being financial hubs with much room for opportunity in the work force. Japan alone, would not have
become the first industrialized nation without its use of public loans and active national bank. Since
understanding a government's ability to spend is important for an economy, it is critical to

Real Gross Domestic Product
Real Gross Domestic Product (GDP) Real GDP increased annually at a rate of 2.6 percent in the fourth
quarter of 2013. Although it decelerated from a 4.1percent GDP growth increase in the third quarter, in
my findings real people were helping our economic growth in the fourth quarter. To be specific, the real
GDP increase in this final quarter beat BEA estimate (a 2.4 percent increase) by 20 basis points. This is
reflected by a larger than previously estimated consumption expenditure (3.3 percent versus an estimate
of 2.6 percent). However, it is offset by a smaller–than–estimated private investment in intellectual
property products (4.0 percent) and residential fixed investment (negative 7.9 percent). There are
positive contributions to this increase such as: personal consumption expenditures up 3.3 percent
(higher than last quarter's 2 percent), gross private domestic investment up 2.5 percent, and exports up
9.5 percent. They are offset by negative contributions such as government spending down 5.2 percent.
Imports, which are a subtraction in the calculation of GDP, were up 1.5 percent. The price index for
gross domestic purchases, which is the measurement of prices paid by US residents, increased at the
rate of 1.5 percent in the fourth quarter 2013 as compared to 1.8 percent increase in the third quarter last
year. If food and energy prices are excluded, the price index increased at 1.8 percent in the fourth
quarter 2013 as compared to an increase of 1.5 percent in the

Improving The Standard Of Gross Domestic Product
To keep the economy running smoothly, to maintain price stability and to alleviate poverty are the main
goals for formulating policies around the world. The experiences of every country are various as
different patterns of economic development. Although it is widely accepted that the reduction of poverty
accompanies the economic growth of a country, which encourages many countries, especially some
developing countries, to concentrate on improving the standard of gross domestic product (GDP), it is
still controversial whether the causal relationship exists or not, for recent evidence shows that if the
measures are not taken appropriately by the government, citizens may remain impoverished. This essay
focuses on China and India, two of the ... Show more content on Helpwriting.net ...
Meanwhile, a similar situation is witnessed in China. In the past decades since 1990, the growth
performance of the Chinese economy has been rising fast with an annual per capita growth rate of
approximately 9%. During this period, living standards in China have improved significantly with rapid
poverty reduction (Chen, 2007; Ravallion, 2008). To be more precise with statistics, from 1989 to 2004,
income in Chinese inland provinces doubled (from 1149 yuan to 3537 yuan), while that in coastal
provinces, more than tripled (from 982 yuan to 2338 yuan). This 15–year period has seen the more rapid
growth in urban areas of both coastal and inland provinces. In rural areas, average household per capita
income rose 2.5 times and in urban areas, it multiplied 3 times (Goh et al, 2008).
However, some further researches indicate that economic growth and poverty reduction do not appear to
be linked as is seen superficially. According to Donaldson's research (2007), comparing four indicators
(poverty rates, GDP, the rich–poor gap and the growth rates in GDP/capita) in many periods, the result
suggests that their relationship is not significant. Besides, there is a nonsynchronous phase between the
changes in poverty and economic growth rates during certain periods. For instance, during the years
1978 to 1984, rural poverty in China decreased rapidly, even as the pace of economic growth during
much of this time was slowing, this implies that economic

Gross Domestic Product Of Australia
AUSTRALIAN ECONOMY
GROSS DOMESTIC PRODUCT As per Australian Bureau of Statistics, Gross domestic product of
Australia is 1560.60 USD, with annual growth rate of 2.50 percent. Services sector dominates the total
GDP of the economy (65 percent of total GDP). Though service sector is dominant yet major
contribution to economy's success in recent years came from mining sector (13.5 percent of GDP).
Some other sectors which have contributed towards the success of Australian economy are
manufacturing (11 percent), construction (9.5 percent) and agriculture (2 percent).
GOVERNMENT BUDGET
Government budget is the accounting of total payments made by the government (in terms of transfer
payments and purchases) and total payments received ... Show more content on Helpwriting.net ...
Majority of the Australian trade is with china which accounts for 30 percent of total exports and 18
percent of total exports.
As stated earlier in the report, Australia is rich in natural resources and it major exports consists of
metals like iron ore and gold (28 percent) followed by coal (18 percent) and oil and gas (9 percent).
Biggest share of Australian exports constitutes of manufactured goods and machinery and other office
equipment. Total amount of exports of Australia are 27874 million AUD.
FOREIGN DIRECT INVESTMENT
The report from Australian Bureau of Statistics showed a decrease in the amount of foreign direct
investment in Australia in recent years. This is due to the Global financial crisis of 2009 where all
components of FDI declined. FDI in Australia decreased from 55596 AUD million in 2012 to 52667
Aud million in 2013
IMPORTS
There has been an increase in imports of Australia from 28595 AUD million in January 2015 to 29129
AUD million in February 2015. The commodities which are included in imports are machinery and
transport equipment which is followed by telecommunication and office equipment. GENERAL
BUSINESS ENVIRONMENT
Australia is a developed democratic nation with stable business environment. It has very diverse and
competitive market. The open structure of Australian markets attracts FDI and greatly compliments its
trade imports and exports.
It is located in

The Monetary Value That Represents All Of The Products...
The monetary value that represents all of the products made in a country is Gross Domestic Product.
This figure affects my life right now because the unemployment in the country can be observed by
looking at the gap between the GDP per capita and the GDP per person. I can use this information
because I am seeking a job. Also, in the future, knowledge of the GDP can be useful because I will want
to know my personal productivity compared to the average which is represented by the GDP per
employed person. Additionally, the Consumer Price Index is a figure that illustrates the inflation of
prices over time. It is determined by the values of the prices of goods that are included in the 'basket of
goods' which has products that consumers usually ... Show more content on Helpwriting.net ...
Furthermore, the Industrial Production and Capacity Utilization are used to predict if inflation will
occur. The industrial production measures how many manufactured goods are produced and the
capacity utilization figure uses this information to create a ratio that determines whether there is a
supply shortage or not. These figures can help me to find out if it is a good time to seek a job in a
particular industry. For instance, right now the capacity utilization rate is at 81.9% in the mining
industry which shows that there is a limited amount of supply, so employment opportunities would be
increased in this field ("Industrial Production"). In the future, I can use this figure to predict if prices
would increase in the field because if there is a limited amount of supply, then prices would increase.
To add, Retail Sales is an economic indicator that shows the comparison of sales in the retail industry
within a few weeks. It is included in the GDP because the retail sales shows the productivity shows the
majority of sales and production in the overall economy. I can use the retail sales figure in my life
because I can see how the prices in retail will change. Also, in the future, I can use retail sales to find
out if retail is a good industry to invest in. Business Inventories and Sales is a figure that contributes to
determining the overall productivity of the economy. This indicator shows the supply

The Effects Of Macroeconomics On Gross Domestic Product
Introduction One of the outstanding elements of macroeconomics is Gross Domestic Product (GDP). In
the last five decades this element has been embraced as an acceptable meter for economic growth
(Robert Constanza, 2009) and remains the best indicator of standard of living of a country. Ghana, a
developing country west of sub–Saharan Africa is not in isolation and different from others. It is an
undeniable truth that Ghana?s economy has not grown much since the early 1960s after her
independence (Aryeetey, 2000). Over the years, Ghana 's economic growth has been pegged at 3% to
4% (Institute of Economic Affairs , 2006). However, in 2011, Ghana recorded a high Gross Domestic
Product growth of about 14.5.0% (Data.worldbank.org, 2016). Nevertheless, this growth has not been
sustained over the subsequent years. Gross Domestic Product growth has been 4%, 8%, 15%, 7.9%,
5.4% and 4.2% for consecutive years from 2009 to 2014 respectively (IMF, 2015).. From the statistics,
it is very evident that GDP growth in Ghana has been undulating. The statistics can be ascribed to the
financial contributions that various sectors such as the real sector with services inclusive, the external
sector and the monetary sector make to the economy. Notwithstanding this, over the years, the major
contributor to Ghana?s economy has been the service sector (Ghana Statistical Service, 2013; Ghana
Statistical Service, 2012) about 50.2% of total real sector contribution to the GDP (Budget, 2015) The
Service

Gross Domestic Product (GDP) is a measure of value of output; it also reflects the wealth of countries.
It can be measured by the function Q = f (K;L): if we want increase the quantity produced (and the
national income), we should increase the labour (workforce) – represented by L – and the capital
(equipment such as factory or machinery) – represented by K. The value and volume of output will
grow up thanks to this to factors. For emerging countries, the issue is to find capital. They already
dispose of a huge population and also a huge potentially workforce: near 1,36billion people in China in
2015 and 973million of people in Sub–Saharan Africa in 2014 (The World Bank, 2015: online).
Countries have two ways to find capital to sustain their growth: saving and foreign direct investment
(FDI). According to Harrod–Domar and his theory, domestic savings are useful to invest for
government or companies (infrastructure, equipment...) (Todaro, 2011). Thanks to Harrod–Domar's
study, the level of total savings determines the total new investments that justifies the equation where
savings are equal to investments. Savings also have an essential role in China's growth. Indeed, Chinese
households save a large part of their income: between 1997 and 2003, the household income per capita
rose more rapidly than consumer spending. During this period, the size of per capita household savings
accounts grew up of 123.9 percent, from 4.6trillion to 10.4trillion (per US Dollars) (Deloitte,

Russia's Gross Domestic Product
Russia's gross domestic product puts its economy as the eighth largest in the world but its per capita
GDP puts it at the seventy–fifth percentile. Retail markets and consumers became popular over a ten–
year period. With the retail market on the rise in Russia, it is valued at $200 billion, of which $5.6
billion is electronics, Eldorado being the largest electronics retailer. For a while, Russian and Western
retailers were unsure of moving directly into regions and instead focused on commercial activities in
Moscow and Saint Petersburg–primary industrial and commercial centers–due to dramatically differing
regional development, numerous local administrative barriers, and significant time differences in
Russia. Russia, now, contrary to the past (1990s to 2000s), when they managed to keep their labor
markets' unemployment at an impressively low level, mainly consists of high resilience of remuneration
rather than the high resilience of working time, and the very low flexibility of employment. Russia is
able to easily adapt to salary decreases, which partially reflects institutional aspects of the Russian
economy and partially reflects psychological factors, evident during periods of transitional reform.
Russian employees are able to maintain their unemployment at low levels despite the labor market
adjusting to new economic conditions. The Russian labor code remains tough yet employee–friendly
because it is almost impossible to terminate a labor contract, and the use of

Gross Domestic Product And Gross National Income
M2A2: National Income Accounting/
Gross Domestic Product and Gross National Income
Samantha Montero & Renee Scott
After reading Economics: Principles and Tools, we understand that one is able to
measure the production of the entire economy by a tool known as the Gross Domestic Product
(GDP). GDP is defined as the total market value of all final goods and services, produced within
a country.1 It summarizes the entire production of an economy into a single number (GDP) and it
gauge 's a country standard of living. Throughout this essay we will aim to explain both the main
components of GDP and it's differences from other forms of economic measurements, as well as
touch upon it's deficiencies as a measure of welfare. We will ... Show more content on Helpwriting.net
...
1 OʼSullivan, Arthur, and Steven M. Sheffrin. Economics: Principles and Tools. 5th ed. Upper Saddle
River,
NJ: Prentice Hall, 1998. Print.
2
GDP, on top of having several different components, has a few different ways in which it
measures output. Two different measurements that are widely used are Nominal GDP and Real
GDP. The main difference between nominal GDP and real GDP is that nominal GDP doesn 't
adjust for inflation and real GDP does. 2 While real GDP is adjusted for differences in price
levels, nominal GDP when calculated is not and, as a result, will often appear higher and can be

misleading. With measurements that require adjustments, one will always encounter
discrepancies. Gross domestic input or GDI measures the sum of all income earned while
producing goods and services within a nation 's borders. 3 The difference between GDI and GDP
is that GDI calculates economic activity based on income, and GDP calculates economic activity
based on spending. While they are similar, the two measurements use different methods to gauge
the economy and thus, the data collected by GDP and GDI will almost never be the same.
According to Dr. Marilyn Waring in the film Who is Counting?4 As long as activity
passes through the market, it is good for growth. In the film Dr. Waring discusses the major

Theu.s Gross Domestic Product ( Gdp )
Analysis of U.S economy Changes in GDP The U.S Gross Domestic Product (GDP) in the first of 2016
increased by 1.1 percent as per chart below. Later in 2015 1.4 percent increase is realized, earlier in
2014 there is decrease in the GDP with consecutive increase in the other quarters of the year, in 2013
there is increase in all the four quarters as per the chart 1 below retrieved from bea.gov. Chart 1 Chart 2
From chart 2 the percentage increase has been almost equal only in 2013 ranging within 3% where there
was a shoot in increase up to 4% in 2013.The chart 2 is retrieved from multpl.com. Changes in savings
According to Bea the savings are as follows 2012 4.8% 2014 5.0% 2015 5.6% From the ... Show more
content on Helpwriting.net ...
and 8.5% in Germany. On average, over 2016 they have been about 1.9% and 0.3%, respectively and at
about 0.3% for the euro area as a whole."(ecb.europa.eu, June 2016) Unemployment rate 2012 8.1%
2013 7.4% 2014 6.2% 2015 5.3% The unemployment rate has been dropping for the last 4 year and
comparing from the previous year the unemployment rate has been at almost same rate. Generally,
according to World Bank data, GDP : 16.77 Trillion USD Savings : 3.21 Trillion Investment : $131
billion Real Interest rates : 1.8% Unemployment : 6.2% The next 5 years would be difficult as
investment rate into United States has fallen from last five years. Real Interest rates have also increased
over past 5 years. Unemployment has decreased in past 5 years. Savings are on record number and may
continue to increase. GDP may remain flat. Government policies on Economic growth The main factors
that determine the country 's productivity and is determined by government policies is physical capital
per worker, human capital per worker, natural resources per worker and technological knowledge as
discussed further below. Capital per worker The workforce will be more productive if they are provided
with better tools and machines to work with to produce goods and services. When a country make
laws/promote that encourage increase capital production then its workforce will be more productive
hence promoting the final

Gross Domestic Product
I. Introduction
1. Introduction and objectives
The wealth and success of a country is something that theoretically is very hard to measure and
quantify. However, tools called Indexes can be used to report on the past, present or future state of
country. The usage for these Indexes is quite obvious: they can be used to benchmark the situation of a
country compared to its peers, create historical trends in order to estimate if any improvements have
been made throughout the years in multiple fields. Of course, they can also be used as political tools for
the world leaders for internal purposes (linked to government policies) but also external policies as it
can be a mean to determine the power that a country can have on the international level. The main Index
that has been used for the past 80 years and is still used nowadays to measure the economic wealth is
the Gross Domestic Product (or GDP). It is important to remember that the initial goal of these indexes
(and particularly the GDP) is to measure and give a detailed report of the addition, subtraction and
multiplication of certain numbers that compose a country's economy. Therefore, a measurement tool is
not an end goal in itself.
Nevertheless, this index became the reason for an international competition between countries to decide
which one is the most able to bring this number to the maximum. This might not be an issue if the GDP
was not mainly a measurement of the economic wealth of a country. During the years, new

The Gross Domestic Product ( Gdp )
The Gross Domestic Product (GDP) represents the monetary value of all the finished goods and
services produced within a country 's geographic borders in a determined period of time. It is used as a
quantitative measure of the total economic activity of a nation, and it is usually calculated on an annual
basis. The GDP can be determined in three different ways: output or production measure, income
measure, and expenditure measure. In theory, it should all give the same number. The output or
production approach defines the GDP as the value of the goods and services produced by all sectors of
the economy. It is calculated by adding the value of the total sales of goods, minus the intermediate
consumption used to produce the final goods sold. The income approach of calculating GDP is defined
as the total income earned by the factors of production within an economy. First, you should determine
the National Income by adding all the wages, rents, interests, and profits earned within an specific
period of time. Then, it is added the value of Sales Taxes, Depreciation and Net Foreign Factor Income,
and the final result will be GDP. The expenditure approach identifies four possible destinations for the
total production of an economy. This output can be consumed by households, businesses, the
governmentor the foreign sector. That is why the GDP can be calculating by adding the total amount of
the purchases made within an economy in a period of time. From this approach we can identify

Gross Domestic Product ( Gdp ) Economic Statistics
Gross Domestic Product (GDP) economic statistics are one of the most closely watched stats throughout
each country. In the charts listed above, the nominal GDP is greater than real GDP in each quarter of
2016 due to the nominal GDP reflecting current GDP at current price and real GDP reflecting current
GDP at past year prices. Also, the chart reflects that the nominal GDP was greater than the real GDP for
each quarter of 2016 due to the value of the nominal GDP sub–categories (personal consumption
expenditures, gross private domestic investments, and government consumption expenditures and gross
investment) all being significantly higher than the same sub–categories listed under the real GDP. The
nominal GDP reflects the prices that are ... Show more content on Helpwriting.net ...
Some differences between the two products are services or the market of goods that are produced for
that respective country's economy. However, the GNP does not include the annual foreign production
that is inherited by the domestic citizens, whereas the GDP does include the foreign productions that are
inherited by its domestic citizens. According to the table above, to determine the GNP and GDP you
will calculate the national product total from the national and personal income. National income is the
overall annual value of goods and services within a respective country economy. The chart shows that in
2016, the GNP was $7,864.80 higher than the national income. National income is broken down into ten
categories (compensation of employees, rents, interest, proprietor's income, corporate income taxes,
dividends, undistributed corporate profits, indirect business taxes, consumption of fixed capital and net
foreign factor income). However, the employee compensation makes up the largest portion of the
national income. In my opinion, I believe this to be true, because the economy is valued by its
population and the services that are provided and goods that are sold. This can't happen without having
citizens gainfully employed, which in return will need to be compensated for the work they are
contributing to their economy. Part III. GDP in Different Countries Country Name Country Code Series
Name Series Code 2015

U.s. Gross Domestic Product
When it comes to manufacturing, some people might argue that U.S. manufacturing is shrinking and all
the jobs are gone into oversea because of what they heard from media or some reasonable stories such a
massive job lost in about a decade ago, and the rapid growth of other competitiveness countries like
China. Although, there were manufacturing job lost has happened in during the past two decades, it
does not mean that it will continue in the future. Baily and Bosworth (2014) stated that, "...what is
missed in a focus on a single sector is that job weakness after 2000 was not just a manufacturing issue;
employment in the entire US economy went through a negative shift after 2000" (p. 11). Furthermore,
manufacturing is one of the most important sector in U.S. economy since it takes a large portion of U.S.
gross domestic product. According to "Economy: overview" (2015), "The US has the most
technologically powerful economy in the world, with a per capita GDP of $54,800". About 20.7 percent
of the GDP is from the manufacturing industry sector. However, the future of U.S. manufacturing will
highly depend on its technological improvement in order to retain in the competiveness global market.
For instance, China has a large labor force with much lower cost of living for the employees compared
to the US. China's workforce is about 98 million employees while the U.S. has only about 17 million
workers in the manufacturing field. But the average hourly compensation cost of

Concept Of Gross Domestic Product
Introduction and explanation of structure of paper
The concept of Gross Domestic Product (GDP), is the measured value of the output, which is currently
produced in the domestic economy. This gives a view of the economic wellbeing for the country, it does
not however give a deeper insight into the true wellbeing of the citizens within the country. This essay
will go over the, definition of GDP, Real versus Nominal GDP, Three ways to calculate GDP, Four
components of GDP, types of money transactions not included in GDP and aspects of the standard of
living that not addressed in the calculation of GDP.
Nominal versus Real GDP
Nominal GDP versus Real GDP. Nominal GDP, is the value of final goods and services produced by
and the economy in the ... Show more content on Helpwriting.net ...
Examples of these are personal vehicles and homes. Non–durable goods or consumable goods, are
goods that will be used and then repurchased. This included items such as food, laundry detergent and
toothpaste.
Second is Investment (I), Investment being important because it has to deal with the infrastructure of a
country, state or city the GDP is being calculated for. Investment takes into consideration, construction
this includes residential, commercial and industrial. Another component of investment is equipment,
this is supplemental to construction. The last component of investment is Inventory. Inventory, this
being the amount of goods or services left in reserve and have not been used yet.
Third is Government Spending on goods and services (G), this is culmination of spending by the
government that includes the total expenditures on good and services by the federal government or state
and local government.
Lastly in the calculation of GDP is the Net Exports (X–M), goods and services that are shipped or sold
overseas are exports. Imports are the goods or services that are brought into the country from overseas.
When calculating the Net Exports, the exports for a given year are subtracted by the Imports for a given
year, giving the net exports.
Three types of money transactions not included in GDP Transaction that are not included would be
those sales of used goods, person to person transactions, goods

Business Gross Domestic Products
Samantha Vanderlooven
11/18/2013
Macroeconomics | ECO201 A02
Faculty: Online Instructor , Jad Habchi
1. What was Real GDP for 2009? The GDP for 2009 was –3.1 In 2009, GDP started to improve after
four quarters of decline during The Great Recession. Nominal GDP for 2009 rebounded to $14.418
trillion Q1: $14,381 trillion Q2: $14.342 trillion Q3: $14.384 trillion Q4: $14.564 trillion Or The Real
GDP for 2009 was 13,973.7
a. What does GDP tell us?
The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's
economy. It represents the total dollar value of all goods and services ... Show more content on
Helpwriting.net ...
National income accounting records the level of activity in accounts such as total revenues earned by
domestic corporations, wages paid to foreign and domestic workers, and the amount spent on sales and
income taxes by corporations and individuals residing in the country.
h. What is the difference between GNP and NI? GNP measures the market value of all final goods and
services produced by a country's citizens or residents. The difference is subtle but important. GNP
excludes economic activity that occurs in the U.S. but is owned by foreigners and includes American
economic activity that occurs in other countries. GDP is place based whereas GNP is ownership based.
So, if a foreigner creates an Internet startup in Silicon Valley, this will count as GDP, but not GNP. If
General Electric opens a new plant in Poland, this investment will be included in GNP, but not GDP. i.
How did NI change from 2008? In 2008, the money value of GDP expands to $4,500m but during the
year, inflation is 3% causing the general index of prices to rise from a 2007 base year value of 100 to
103 in 2008.
j. What caused these changes? The financial crisis was created from the housing bubble and the
mortgage industry. Additionally, this caused a fall in national income, which lead growth in GDP in
negative territory. I changed

Gross Domestic Product Is The Value Of Goods Produced And...
Gross Domestic Product, also known as GDP, is defined as the value of goods produced and services
provided in a country during one year. Gross Domestic Product is important in the culture of economics
because in the United States, we use it to measure the well–being of the economy. Gross Domestic
Product is measured in quarters, there are four quarters in one economic year. Say the Gross Domestic
Product is down 10% in Quarter One and then in Quarter Two the Gross Domestic Product has gone up
by 15%. You subtract 15% from 10% and then you are left with 5%. Therefore, the economy, or the
Gross Domestic Product, has grown by 5% since the last quarter. If the Gross Domestic Product was
never measured, we as Americans would not know if the economy was growing, shirking, or staying the
same.
On news channels like FOX News, FOX Business Network, CNN, and MSNBC we hear them talking
about the nation's economy and the gross domestic product all the time. On shows like Neil Cavuto,
they have guest on the show to discuss the current gross domestic product and how it's either improved
or diminished over the past years or quarters. In 2010, on Neil Cavuto's FOX Business Network show,
"Cavuto on Business" the group was discussing the downplays of the fourth quarter gross domestic
product. The gross domestic product for the fourth quarter had jumped 5.4%. Neil and four other
contributors were discussing whether or not the Obama Administration was going to increase spending
or put money

What Gross Domestic Product ( Gdp ) Is A Better Life? Essay
HoChun Lam Professor Robert Horito ECON–2010–380 October 31, 2015 Life Quality and Economy
Most people may know what gross domestic product (GDP) is. And most people think that if a country
has a high GDP, it tells us the country is strong. High GDP countries' people have higher salary, higher
material life, and more economic activity. However, it does not mean that high GDP countries' people
have a better life. For example, most of high GDP countries have serious pollution problem. Therefore,
they have to spend a lot of money on health care. Do they really have a better life? Also, GDP has
advantages and disadvantages. GDP is only one of the methods to evaluate the quality of countries. One
of the disadvantages of GDP is not comprehensive. Working is not only can be occurred in workplace.
Workers can also work at home, like housekeeping and child care. And GDP would not count this type
of job. However, they actually can develop the economic income. Moreover, a country can have really
high GDP with only making a lot of production, but people who living in this country can be really
poor. Also, the cost of natural disasters can increase GDP. However, is natural disaster a good thing?
The answer is no for sure. The GDP would not show the impact of the environment. It only consider the
positive side; therefore, it can tell GDP is not objective enough. On the other hand, I will explain the
advantages of GDP as a measure of welfare. GDP is the total value of goods and

The Rate Of Gross Domestic Product And Unemployment
"The relationship between rate of Gross Domestic Product and Unemployment
Of an economy"
The economic power of an economy is what truly enables it to be a global ruler; furthermore a strong
economy means the people are employed, successful and thriving. The best way to measure the
economy's current health is to just take a look at their Gross domestic production and unemployment
rate. A strong economy stands for global dominance and influence, resulting in high standards of living,
decreased unemployment, and prevention from recessions, depressions and also lower the risk of
inflation but is there a link between the gross domestic product and unemployment that plays a role in
all this? And how does this effect the well being of an economy, also why was the Canadian recession
of 2008 a proof of this direct but opposite link of GDP and unemployment.
Now to connect the dots, it's easy to put out all these terms but not actually understand how they are
related well the growth of GDP means there is more demand of products and if there is demand,
companies need workers to make those products, hence there is lesser unemployment and the economy
is growing and production rate is also increasing. If the rate growth is constantly decreasing with lesser
demand and there is constant lower economic activity then the economy goes into recession. To further
elaborate these concepts, Gross domestic product stands for the total economic activity of a nation, it
means the monetary value of

Gross Domestic Product Is The Measure Of A Nation 's Total...
Gross Domestic Product is the curative measure of a nation's total economic activity. It represents the
monetary value of all goods and services produced within a nation's geographic borders over a specified
period of time. In other words, it's how to tell how the economy of a country is doing. It is the total
dollar valued of all goods and services; the size of the economy usually in a given year. GDP first came
into use in 1937 in a report to the US Congress in response to the Great Depression, after Russian
economist Simon Kuznets conceived the system of measurement. The system used before was the Gross
National Product (GNP). It was widely adopted in 1944 as the standard means to measure national
economist. The income approach to calculate the GDP is the sum of the components. Labor income,
rental income, interest income, and profits earned by households in a year. What is spent on a product is
the income to those who helped to produce it and sell it. The expenditure approach, on the other hand,
totals consumption, investment, government spending, and net exports produced by a country in a year.
The first component of the GDP is consumption. It includes all private and public consumption,
government outlays, investments, and exports minus imports that occur within a defined territory. Is
normally the largest GDP component. Many persons judge the economic performance of their economic
performance of their country mainly in terms of consumption level of dynamics.

How Gross Domestic Product ( Gdp ) Is Calculated
US020C438A Principle of Economics Hayley Hart Professor Steven Drinkwater Describe how Gross
Domestic product (GDP) is calculated; discuss how good a measure GDP is of a country's economic
wellbeing. Gross Domestic Product (GDP) can be calculated in three ways, Income, expenditure and
output methods. Mankiw and Taylor(2014) says that in the UK The Office of National Statistics
produces a single measure of GDP to do this, three approaches are used (Income, Expenditure and
Production) the equal amount of all three of these approaches are then balanced out to create an overall
final figure. The expenditure approach is the most commonly used method, it is based on the value of
total expenditure goods and services in a current year. it sums up the level of consumption of goods and
services, gross, investment, government purchase and exports and imports. The basic formula for the
expenditure approach is; Y = C + I + G + NX Mankiw and Taylor(2014) Consumption is the spending
made by residential properties, Investment is spending on equipment or a service to use or sell,
government purchases is the spending on goods and services by local, state and national governments,
the spending on produced goods and services by local state and national governments and net exports
are the spending on products or services from across the globe minus spending on foreign goods by
domestic residents. GNP stands for Gross National Product and is another measure of income, it's the
total income

hiding something behind the actual unemployment rate in America or people in America are still feeling
the effects of the 2008 recession. The housing market crash in the fourth quarter of 2008 may still be
affecting many families today. Since consumer spending drives two thirds of the economy, according to
econoday, it also affects retail sales because when consumers are confident in their economy, there are
willing to buy more (Econoday: "Consumer confidence"). This, in turn, affects U.S. retail sales which is
also a reflection of the U.S. Gross Domestic Product. These indicators have a chain reaction because
when one changes, it affects the rest.
(Ferreira, 2015).
As we can see from both the consumer confidence and retail sales ... Show more content on
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According to Lynn Franco, she says that consumers are cautious heading into 2016 and expect little
changes in business conditions. Next year is definitely not looking very promising for the United States.
Retail Sales Indicator The retail sales indicator measures the dollar value of merchandise sold within the
retail industry, which includes traditional retailers selling via internet but excludes companies
conducting non–retail operations such as travel, ticketing, and financial services ("FAQ"). The retail
sales is a leading indicator because it gives us a glimpse of what we can expect in the following months
in the economy. It is important to keep in mind that leading indicators are not always accurate and are
subject to revisions. The retail sales indicator covers the previous month's data and is typically released
on or around the 13th of each month. The report is usually presented in one of two ways: with auto sales
being counted and without auto sales being counted since auto sales can skew the data due to their high
price ("Investopedia: retail sales", n.d.). Companies of all sizes are used in the survey, from large
corporations such as Wal–Mart to independent mom and pop shops. The methodology behind the
survey is conducted by the U.S. Census Bureau and the U.S. Department Commerce (United States
Bureau: "Monthly & Annual retail trade: Annual retail trade survey methodology", 2015).

Government Spending On Welfare And The Gross Domestic Product
Introduction
Various governments send out information regarding how various tax revenues are utilizes on people
who pay these taxes. Spending is always broken into numerous categories and welfare is one of the
biggest categories. Expenditure on welfare is directly extracted from government statistics[1]. There has
been a great debate as to whether government spending on welfare has any relationship with the size of
a country's GDP[2]. As such, this research is meant to demystify the situation. The purpose of carrying
out this research is to examine any underlying correlation between the government spending in welfare
of the people and the gross domestic product.
There are two hypotheses as far as this subject is concerned. One sates that ... Show more content on
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Additionally, people who are working in countries that have better welfare will be in a better position to
work and hence help build the GDP. Hence, carrying out the research will help the researcher be able to
choose between the two hypotheses and hence determine whether government expenditure on welfare
effects the growth of the GDP or stagnation of the same.
Literature Review
The question of whether or not there is a correlation between government spending on welfare and the
GDP has thrown policy makers into debates and clearly differing theoretical camps[3]. Empirical
studies have given confusing evidence as some of the studies have favored one approach or the other
depending on many factors in consideration. The huge growth of government spending on the welfare
of the people in both development and developing countries since the times of the Second World War
and its effect on the gross domestic product has produced a wide literature that offers distinct attempts
to expound on the observed relationship[4].
On the other side, studies on public finance have been channels on the identification of the primary
causes of the growth in public sector expenditure. Among the earliest trials to explain, the growth in the
economic growth and expenditure in the public sector is Wagner's Law. This law is based on the
observations of Adolf Wagner. His observations were first for his country and then for rest of the world.
He states that

Gross Domestic Product (GDP) is an economic objective used to predict and measure economic growth
and output. GDP is defined as the monetary value of all goods and services produced in an economy in
one year. This includes manufactured and agricultural goods, as well as services such as hairdressing
and plumbing.
Gross domestic product can be measured for an economy is two ways, the expenditure method and the
income method.
Expenditure method: GDP= I + C + G +(X–M)
I – private investment, which is broken down further into two categories
Business investment: can be planned new capital e.g. new sheds, machines and tools
Household investment: private expenditure on new homes
C – Household consumption and expenditure, which is broken down further into three groups
Non–durable goods: consumed within 3 years, therefore stable essential spending e.g. food, petrol
Durable goods: long lasting, not essential, can be postponed or brought forward e.g. white goods
(fridges), brown goods (furniture), motor vehicles
Services: non–commodity, essential (health services e.g. doctor) discretionary (restaurants, hairdressers)
G – government expenditure, which is further broken down into two groups
Government current expenditure: consumption for government functions e.g. pens/chairs
Government capital expenditure: government investment e.g. schools, roads, hospitals
(X–M) – net external demand
This is all money payed to Australia for exports (X), minus money payed to

Download the Gross Domestic Product Table from the Bureau...
Assignment
AB 204 Section 2
August 11, 2012
1. Download the Gross Domestic Product table from the Bureau of Economic Analysis' site and paste it
into your answer. (5 points)
Table 1.1.5. Gross Domestic Product
[Billions of dollars] Seasonally adjusted at annual rates
Last Revised on: July 27, 2012 – Next Release Date August 29, 2012
Line||2010||||2011||||2012||
||I|II|III|IV|I|II|III|IV|I|II|
1|Gross domestic
product|14,270.3|14,413.5|14,576.0|14,735.9|14,814.9|15,003.6|15,163.2|15,321.0|15,478.3|15,595.9|
2|Personal consumption
expenditures|10,069.1|10,148.3|10,243.6|10,401.9|10,566.3|10,684.9|10,791.2|10,873.8|11,007.2|11,067.5|
... Show more content on Helpwriting.net ...
This uncludes durable goods, consumer products, and services. This is an important factor because it is
an included measure of GDP, and the figure acts an indicator for economic trends. How much
consumers spend also has an affect on inflationary pressures. Goods or products make up nearly one–
fourth of the US economy.
4. Durable Goods are the hard goods that yield utility over time, rather than being completely consumed
all at once. Some examples of durables goods are automobiles, jewelry, and furniture. Although this is
the smallest category (only 7%), it still has an impact on GDP.
5. Nondurable Goods are soft goods or consumables, which are goods that need replaced immediately
or are used all at one time. Examples of nondurable goods are food and clothing. These goods also
make up a small portion (16%), however, still important to GDP. 6. Services are explained as the non–
material equivalent of a good. Service provision has been defined as an economic activity that does not
result in ownership. No transfer of possession takes place when services are sold. Examples of such are
financial services or healthcare. Nearly half (47%) of US GDP is made up services, not products. This
makes this portion very important.
7. Gross private domestic investment (I) are the expenditures on capital goods that are used for

productive activities in the domestic economy that are undertaken by the business sector during a given
period of time. Gross

Gross Domestic Product Changes In The United States
The production of countries is compared to one another based on their gross domestic product. A
country is said to have economic growth if it has an increase in output. Every quarter of the year, the
Bureau of Economic Analysis releases a GDP estimate on the US. This allows for people to see how the
US economy is doing, how it's changing, and predict how it might change in the future. The reports for
quarter one, two, and three are all out now for 2014 and it is very interesting so see how the gross
domestic product changes through each quarter. The articles I picked to summarize and analyze are each
about a certain quarter and are in chronological order. The first article from Forbes.com that is written
by Samantha Sharf is titled "U.S.

Economic Impact Of Gross Domestic Product
5. Economic Perspective
In a previous section the researcher mentioned that as a countries' economic performance, wealth and
prosperity, improves, households will have more income to spend, which leads to more consumption
and, consequently, more waste production. The Bloomberg Economist Michael McDonough studied the
correlation of GDP and trash and he discovered a similar positive relationship between a countries' GDP
and its total waste production (See Figure 16) (McDonough). The Gross Domestic Product (GDP) is the
total monetary value of all, domestically, produced final goods and services during an annual basis
(Investopedia). He explains that everything that people throwing away, not only consumer products but
also buildings being ... Show more content on Helpwriting.net ...
McDonough discovered waste has an 82% correlation to US economic growth by examining the
Association of American Railroads (AAR) carloads of trash with the U.S. GDP. The U.S has
experienced a GDP decline of approximately 20% between 1994 and 2012 and a decline of waste
production of approximately 30% (See Figure 16) (McDonough). From Figure 16 one can see that
something is wrong in the economy, potentially, in the underlying economy. And that recent downturns
in the waste production is concerning regarding the near term direction of the overall US economy.
Figure 16: AAR Waste Carloads compared to U.S. GDP
Therefore, this correlation makes it clear that countries need to have the right tools to deal with the
increasing amount of waste in order to minimize both the economic costs, and the environmental
negative effects that come with waste. One can argue that recycling is one of the best tools to fight the
increase in waste production. Recycling would not only lower the total amount of waste that needs to be
disposed of in the end of the waste stream, which would reduce both the cost and the environmental
damage, but recycling would also lower the need to use virgin raw materials, which reduces the strain
on natural resources.
Some might say that the problem is that while growth in GDP has a clear relationship with waste
production, there is not a clear

Colombia 's Gross Domestic Product
GDP
Colombia's Gross Domestic Product has a worth of 378 Billion US dollars. The average GDP of
Colombia from 1960 to 2014 is USD 83 Billion. From lowest of USD 4 Billion in 1960 to the highest of
USD 380 Billion in 2013.
Rate of growth
The rate of growth of Colombia expanded 60% quarter on quarter on 2015 on the last three months. In
2015, the GDP expanded 3.1 percent which decreased 1.1 of 4.8 percent in 2014. However, the average
GDP growth rate has an average of 1.07% (2001 to 2015). The highest was 3.50% in 2002 and the
lowest was –90% in the first quarter on 2002. Due to the lost in Government revenues from 2014 to
2015 Colombia has lost its bond in the investment section.
Per capita Income/Family Income
The Gross Domestic Product per capita was at 4549 US dollars on 2014. In the world's average is 36%.
The average GDP per capital from 1960 to 2014 was 2690 dollars. The highest was recorded in 2014 at
4549 dollars and the lowest recorded on 1960 at 1452 dollars.
Colombia's average salary per month is $692. In 2014, the average monthly income was $578. The
National Department of Administrative Statistics in Colombia informed that there has been an increase
of 7.6% from 2013 at $537. In a family of four, the monthly income was around $2,313. If the family
lived in the capital or town, the income was of $2721 however if the family lived in rural areas, the
income was of $960.
Distribution of Wealth
Colombia's unequal distribution of wealth, has affected

As the United States moved further away from the immediate economic boom in the final years of the
World War and the following several years, its economy showed a major decline. While the country
fought one of the biggest wars of all time, defense spending rose to levels as high as 37.8 percent of
U.S. gross domestic product (Teslik). World War II was financed through debts and an increase in taxes,
and this negatively effected both consumption and investment. Some believed that the war would
improve the economy due to the increase in GDP during those years, but at the end of the war, the
economic growth fell back to the same trend it had been following during the 1930 's (Institute for
Economics and Peace). During the 1960 's, Federal spending soared because the government was
attempting to fund new programs such as Medicare, Food Stamps, and various plans to improve the
education system (US Department of State). Then, with the war in Vietnam on the horizon, military
spending began increasing as well, and the government started spending a surplus of money, since it had
to fund both the war on poverty domestically, and the prepare the nation for another war internationally.
The government raised taxes throughout the 1950 's and into the 1960 's with income tax rates reaching
the high 80% (Top US Tax Rates Over Time, graph). The government was unable to raise enough
revenue through taxes, as they had just spent billions of dollars on the Second World War, and inflation

The Increase Of Gross Domestic Product
The criteria used to justify the selections presented on this essay is the increase of gross domestic
product (GDP) in the United States. The GDP is used to determine how much money was spent, how
much good and services were sold and how much income was earned in the country. The United States
are responsible for much greater per person greenhouse gas emissions, and the country is working
towards the reduction of emissions that might help to diminish the climate change and inspire other
countries to take action too. New research shows that if present trends continue, the total cost of global
warming will be as high as 3.6 percent of gross domestic product (GDP). The impacts of global
warming will come with price approximately of $1.9 trillion annually by 2100. Current projections of
the earth 's surface – data from the Intergovernmental Panel on Climate Change (IPCC) – will continue
to rise on this 21st century; the global mean surface temperature increase for the period 2016–35
relative to 1986–2005 is likely to be in the range of 0.3°C to 0.7°C. Tourism, agriculture and other
weather–dependent industries will be affected by global warming. Homeowners and businesses will
also be impacted by water and energy costs. Climate change leads to terrible natural disasters such as
hurricanes and heavy storms. Moreover, increased precipitation, humidity, higher sea–level and melting
ice sheets are likely to happen due to heat waves and weather variation in

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