Glossary of economics research
Results of search for GDP follow:
GDP:
Gross domestic product. For a region, the GDP is "the market value of
all the goods and services produced by labor and property located in" the
region, usually a country. It equals GNP minus the net inflow of labor
and property incomes from broad. -- Survey of Current Business
A key example helps. A Japanese-owned automobile factory in the US counts in
US GDP but in Japanese GNP.
"GDP can be calculated from output statistics, income statistics or as the sum
of private expenditures, public expenditures and net exports." (Bohlin,
2003). Measured output from one sector that immediately became an input into
another productive sector is not supposed to count; one subtracts them out, to
get only the value-added by each productive sector.
Source: Survey of Current Business;
Bohlin, Jan. "Swedish historical national accounts: The fifth
generation." European Review of Economic History, 7:1 (April, 2003):
73-97.
Contexts: macro; government
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