Victoria Yasmin Ortega - ACT#1 Pre final PDF

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Act i vi t yNo.1Pr efinal s:Resear ch:GDP 1. Whati saGDP( Gr ossDomest i cPr oduct ) ?  Thet ot almonet aryormar ketval ueofal lfini shedgoodsandser vi c espr oduced wi t hi nacount ry' sbor der si nagi v ent i mespani sknownasGDP.I tser vesasa det ai l edscor ecar dofac ount ry' seconomi cheal t hbecausei ti sagener al measur eofover al ldomest i cout put .  Themonet aryval ueofal lfini shedgoodsandservi cespr oducedwi t hi nacount r y dur i ngagi vent i mei sknownast heGr ossDomest i cPr oduc t( GDP) .  GDPi sameasur eofacount r y' seconomi cheal t ht hati susedt oest i mat ei t ssi z e andr at eofgr owt h.  GDPcanbemeasur edi nt hr eedi ffer entways:i nvest ment s,out put ,andr evenue. Topr ovi demor ei nf or mat i on,i tcanbeadj ust edf ori nflat i onandpopul at i on. 2. Whatar et heTypesofGr ossDomest i cPr oduct The4TypesofGDP  RealGDP.RealGDPi sacal cul at i onofGDPt hati sadj ust edf ori nflat i on.. . .  Nomi nalGDP.Nomi nalGDPi scal cul at edwi t hi nflat i on.. . .  Act ualGDP.Act ualGDPi st hemeasur ementofacount ry' seconomyatt hecur r ent momenti nt i me .  Pot ent i alGDP. 3. Whati st heI mpor t anceofGDPi n ourcount ry?  GDPi si mpor t antbecausei tpr ovi desdet ai l sont hesi z eandper f or manceofan economy .Ther at eofi ncr easei nr ealGDPi sof t enusedasagaugeoft he economy' sover al lheal t h.Anr i sei nr ealGDPi svi ewedasani ndi cat i ont hatt he economyi sdoi ngwel li ngener al . 4. How dowecomput eGDP? i t t enout ,t heequat i onf orcal cul at i ngGDPi s:GDP=pr i vat econsumpt i on+  Wr gr ossi nvest ment+gover nmenti nvest ment+gover nmentspendi ng+( expor t s– i mpor t s) .Fort hegr ossdomest i cpr oduct ,“ gr oss”meanst hat t heGDPmeasur espr oduct i onr egar dl essoft hevar i oususest owhi cht he pr oductcanbeput . 5. Whatar et hedi ffer entki ndsofappr oachest oGDP?  Theval ueaddedappr oach,t her ev enueappr oach( how muchi spai dasi ncome oncapi t alusedt omakest uff) ,andt heexpensesapproach can all be used to

calculate GDP (how much is spent on stuff)....