Questions tagged [gdp]

Gross Domestic Product (GDP) is a flow measure of the value of finished goods and services produced within a country's borders in a specific time period. GDP is typically calculated on an annual basis.

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1answer
107 views

Sources of historical cross-country government debt to GDP data

I am looking for a source containing debt (government debt) to GDP data of different governments. Do you know of any reliable sources with data going back as far as possible (at least 1960s)?
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Does “I” in Y = C + I + G + X - IM refer to the domestic investment?

We know the national income identity: $Y = C + I + G + X - IM$. From many resourses, $I$ refers to domestic investment. For example in this link: https://opentextbc.ca/principlesofeconomics/chapter/...
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148 views

Database for Monthly GDP

Can anyone point me to a source of monthly GDP? So far I only find yearly and quarterly. I need it for the period of Jan/1999-Jan/2015 for USA, Japan, the Eurozone and UK. Thank you!
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Is there a relationship between the elevation/altitude of a city and its GDP?

A year or two ago, I recall watching a YouTube video that looked at the GDP of various cities and argued that there was a weak positive correlation between their elevation and their GDP. I can't find ...
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How does real GDP take into account technological advancement?

I'm asking this question, since it was not explained in my textbook and since I couldn't find the answer in Internet. For example, 1 TB HDD costs 50 dollars now, and 100 GB HDD costed 50 dollars in ...
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How do government purchases crowd out the private sector?

I am curious about how government purchases crowd out the private sector (if it does). If we look at a graph of the composition of US GDP, it seems that government purchases and investment are ...
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3k views

Why do we change the base year?

Never, never, understood this. I know what Nominal and Real GDP is, I know how the base year calculations work, my question still remains. The idea behind real GDP that makes most sense to me is the ...
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1answer
191 views

Do products which are only produced and consumed locally contribute to GDP value?

According to Wikipedia: Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal ...
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1answer
712 views

Financial investment in the composition of GDP

In the production function Y = C + I + G + NX Does foreign investment in domestic assets (i.e. foreign buying of domestic bonds) - and vice versa - come under the Net Exports variable? Which ...
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If all quantities produced rise by 10 percent, and all prices fall by 10 percent, which of the following occurs?

I am having a hard time deciding for this question: If all quantities produced rise by 10 percent, and all prices fall by 10 percent, which of the following occurs? A) Real GDP rises by 10 percent, ...
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334 views

How do you stop Hyperinflation in a Nation?

In history, I learned that the Weimar Republic had hyperinflation as a consequence of leading and striving war during World War I and placed a new currency named German Rentenmark which would be about ...
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How are cryptocurrencies reported in GDP?

Apparently the total market value of cryptocurrencies is currently close to $118 billion. Is any of this reflected in GDP figures over the years? For example, if I start mining bitcoin today, I will ...
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What is the Credit-to-GDP gap exactly?

I have been hearing a lot about this metric in relation to rising fears of a Chinese financial crisis. I am wondering, what exactly does this mean? I am told it refers to the difference between ...
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1answer
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If a GDP deflator is continually greater than 100%, does that mean inflation is still occuring?

If a GDP deflator is continually greater than 100%, does that mean inflation is still occuring? If the difference in deflators from year to year is continually greater than 1%, does that mean ...
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1answer
143 views

What would happen if the entire world switched to the 4-day work week? [closed]

What would happen if the entire world switched to the 4-day work week? Specifically would someone's quality of life drop significantly in a developed or a non-developed country?
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Does real GDP control for changing preferences?

This claims that real gdp does not account for changing preferences. However, if preferences were to change for sneakers and subsequently pushes the price up, won't this be reflected in the changed ...
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1answer
398 views

Does open source software contribute to GDP?

Does open source software contribute to the GDP of a nation? If yes then how, and how does it depend on the increase in usage? For instance, would an increase in the usage of open source software ...
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1answer
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What is a supply side shock in macroeconomics?

I was hoping someone could clarify what exactly is meant when someone refers to a country as having undergone a 'supply-side shock' and generally speaking when one is evaluating the health or growth ...
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If a retailer consumes a good he bought from the producer, does that get accounted into the GDP of a nation?

Let's say we have a soft-drinks store. Say the store sells Pepsi and Coke. If the retailer drinks a bottle of coke from his own store, does that get counted into the GDP of a nation? Or is it only ...
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Repercusions of fabricated GDP (China)

China has fabricated its GDP in the past. Which are the real-world repercussions of doing so? Let me pose an scenario: If China were in a recession (say, -1% for two quarters), but posts 1% for both, ...
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Calculate GDP by three different methods

I have the following question to answer in my macroeconomics textbook. Steel producer makes steel worth 4000 out of which 0.25 is sold to machines producer and 0.75 of steel is being sold to the car ...
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1answer
324 views

Changing the base year of Real GDP from 2001 Euros to 1990 Geary–Khamis dollars

Estimating regional Gdp in Italy (1871-2001): sources, methodology, and results (Felice, E) This article has Italian historical regional GDP figures, but they are in constant 2001 euros not in 1990 ...
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189 views

Why GDP series always has an unit root problem?

In one of the lecture slides of class that I am currently taking our professor mentioned that when it comes to the GDP is it safe to always assume it has unit root and testing for it is just ...
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What's the difference between gross fixed capital formation and gross private domestic investment?

Cited from Wikipedia, we know: Gross private domestic investment is the measure of physical investment used in computing GDP in the measurement of nations' economic activity. This is an important ...
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Calculating the Net Domestic Product

This should be fairly simple but I think I am missing something here. Gross Investments: 46 Exports: 9 Disposable Income: 190 Personal Savings: 10 Purchases: 84 Net Foreign Factor ...
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Correlation between CPI and GDP

What is the relationship between GDP and CPI(consumer price index)? My thinking is that if the CPI increases, this means that the market basket cost has increased, therefore, the consumer spending has ...
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34 views

Areas of Europe with more women than men have higher GDP and lower unemployment. Why might this be? [closed]

Using Eurostat data I've found that regions of Europe with more women than men (i.e. female biased sex ratio) have higher GDP and lower unemployment than areas with male biased sex ratios. any idea ...
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Generally speaking, shouldn't GDP roughly increase equivalent to population growth?

With all things being equal: shouldn't the GDP roughly increase equivalent to population growth (as a minimum, setting aside GDP increases resulting from technology, education, and all other factors). ...
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3answers
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What is Q in the quantitative theory of money?

I am testing the quantitative theory of money for South Africa. QP = Mv. It is fairly clear what M and P are (broad money, or M1, price index, etc). But I am puzzled with Q. Is it GDP or does it ...
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168 views

What does it mean when the natural rate of unemployment is greater than the actual rate?

According to this graph: I just don't get when natural unemployment is greater than actual unemployment. Why is this the case?
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What is the standard error on quarterly GDP figure? [closed]

The government and media seem to judge whether it is in a good economy right now based on its quarterly GDP figure. However, I wonder how its figure is trustworthy. Even if the quarterly GDP is +1.2%,...
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1answer
145 views

What would be the GDP of Algeria without Oil & Gas?

Facts : *Algeria's GDP is 230 B$, *Oil & Gas account for 30% (70 B$) My simplistic reasoning would say : Substract 70 from 230 and get a new GDP of 160 B$. ...
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Why couldn't India grow its economy as fast as China did?

I was listening to this debate on India vs China. Professor Dr. Kishore Mahbubani posed this question (watch from 17:21). Let us see the following graph: India has a population comparable to China. ...
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885 views

Correlation and Causality: Data comparison of educational spending and GDP growth

I am interested as to whether or not Educational spending does or does not affect GDP and GDP growth (and as an aside GDP per Capita). As an overview, I've ranked the countries in each aspect (with 1 ...
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How do I convert real gdp into chained-dollar real GDP?

I have quarterly data for real GDP from 1981-2015. I also have quarterly chained-dollar real GDP from 61-2012. I need to have them converted into one series. I've looked up several different formulas ...
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Theoretical economy calculation of closed country

Is there any well-known theoretical solution to the problem as described below? I am considering an ideal very simplified case. There is a closed country/community of N people. All people are working. ...
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1answer
42 views

An easy GDP growth question

A woman pays her gardener £60 per year and later married him. The gardener continues to work in the garden but unpaid. The woman earns £1000 before and after the marriage. Statement: the marriage ...
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1answer
44 views

What is the effect on GDP when foreigners buy lots of domestic bonds?

I am trying to figure out the effect on GDP of foreigners buying lots of domestic bonds. From what I understand, when foreigners buy lots of domestic bonds: They need to convert their foreign ...
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1answer
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GNI versus GNP for Measuring Development

In the calculation of the Human Development Index, Gross National Income (GNI) is used rather than GNP. I've searched around on the internet, but I haven't found a clear explanation of what the ...
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Isn't recession is when there's an actual decrease and not just a less rapid growth?

I heard that for 2020, the global economic forecast is recession. The growth will be less than 2.5%. But isn't recession is when there's a decrease in GDP (for two consecutive quarters, as I recall), ...
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Bananas and oranges in communist countries

This is a question I wanted to ask for a long time. If you check the GDP or East Germany in 1989 and compare it to that of banana-producing countries you can see: ...
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What are the books usually called for studying the computation of GDP?

What are the books usually called for studying the computation of GDP? It seems that the economics growth by Barro doesn't discuss about that.
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How do I calculate the services sector as a percentage of GDP?

Could anyone explain how I should calculate the share of services sector as a percentage of GDP? I get the numbers for US GDP from Table 3: https://www.bea.gov/system/files/2019-10/gdp3q19_adv_0.pdf ...
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1answer
104 views

Do outputs of a country produced outside its borders contribute to its citizens' well-being?

For example, a Japanese automobile company of which manufacturing factory located in China. Do the outputs produce from the factory located in China contribute to the well being of the Chinese people ...
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If a company buys a robot, it's part of investment. If a person buys a car, it's part of consumption. Why?

As I understand it, a company buying a robot -- something that depreciates over time and will eventually break -- is included in investment because it provides a long term benefit (increase in GDP). ...
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3k views

Are debt/GDP ratios calculated with real or nominal GDP as the denominator?

As the title suggests, I would like to know whether the numbers are generally calculated with real or nominal GDP. Besides that I would also like to know whether it matters and how significant of a ...
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2answers
90 views

Textbooks claim that the difference between GDP and GNP (or GNI) is about geography vs citizenship--is this correct?

Many textbooks claim that the difference between GDP and GNP is about geography vs citizenship. For example, Colander: GDP is output produced within a country’s borders; GNP is output produced by a ...
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39 views

What does 'Health spending as a share of GDP' mean?

I am watching a video essay talking about healthcare spending in different countries and one of the first graphs shown was titled: 'Health spending as a share of GDP'. After doing some reading, I ...
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1answer
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Why does the answer not include increased negative unplanned stock investment?

I will focus on the event "c": The answer for "c" is following: A sharp increase in the rate of real GDP growth leads to a higher level of planned investment spending by producers, according to ...
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What would happen to the world GDP if we run out of minerals to mine but not of sources of energy?

I was thinking about how the depletion of minerals (metals and all material we mine from the Earth) will affect the GDP of the world. I read somewhere that at the current extraction rate, we will run ...

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