Gross domestic product concept - PowerPoint PPT Presentation

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Gross domestic product concept

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The total market value of all final goods and services produced ... GDP-Measurement issues (discussion) Limitations of the GDP concept. GDP per capita (PPP) ... – PowerPoint PPT presentation

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Title: Gross domestic product concept


1
  • Gross domestic product concept
  • Gross domestic product (GDP) is the total market
    value of a countrys output. The total market
    value of all final goods and services produced
    within a given period by factors of production
    located within a country.
  • - Final vs. intermediate goods and services.
  • - Exclusion of used goods and paper
    transactions.
  • - Exclusion of output produced abroad.

2
  • Calculating GDP

Expenditure approachMeasures the amount spent
on all final goods during a given period.
Income approachMeasures the income (wages,
rents, interest, and profits) received by all
factors of production in producing final goods.
3
  • Expenditure approach
  • - Personal consumption expenditures (C)
  • - Gross private domestic investment (I)
  • - Government consumption and gross investment
    (G)
  • - Net exports (EX - IM)
  • GDP C I G (EX - IM)
  • Income approach

4
  • GDP-Measurement issues (discussion)
  • Limitations of the GDP concept
  • GDP per capita (PPP)
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