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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54 views

Historical GDP of world economies back to 1945: What are the most complete and reliable data sets?

I need the historical GDP of all modern countries (or at least the vast majority) from 1945 to now. It seems the world bank data only starts in 1960 or later. I found Angus Maddison's data, but I don'...
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Comparing GDP contractions between Russia and US

I was reading Rogoff's piece on the Russia's economic outlook, and in a paragraph, he states The shock to the real economy has been severe, with Russia suffering a decline in output in 2015 and ...
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How much does one percent of unemployment 'cost'? (Unemployment elasticity)

There is always debate that increasing minimum salary will pour in more money into the budget as those who get minimum salary will spend them immediately. The counter argument is that increasing ...
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448 views

How does an import driven economy function?

Can a country's economy,where everything is imported from other countries, solely depend on the income from its retail industry?
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Recommendations for ways to address gaps in GDP data?

I am a biologist that is using GDP data as part of my next research project and I am finding large gaps in the data, both in terms of years and countries. I am wondering what the best practice is for ...
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4k views

The period of the business cycle in which the real GDP is increasing is called the?

The period of the business cycle in which the real GDP is increasing is called the? And no, this is not an homework question. I'm a college student and we starting our exams soon. I'm just going ...
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Influence of a TTIP on the GDP of a european country

So my question is simple but what I would like to know is if my method of calculating something like that plausible or not. So it goes like this : the formula we took at lecture for calculating is ...
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433 views

Interpretation of the Impulse Response Function

I have an IRF that shows the GDP shock to GDP. Let's say I have a 5-year forecast of GDP. If there is an immediate 1% decrease in GDP today, can I adjust the original 5-year forecast by using the IRF?...
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Debt bearing capacity

In times of low yields and the prospect of rising yields, I asked myself if the european countries can ceteris-paribus cope with rising yields. Is there a way to calculate the effect of rising yields (...
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Is there a change over the business cycle in how much of economic activity is market-based?

Out of the total production in an economy, a big part is market-based, as when you make something and sell it. But a big part is not, as when you make something and don't sell it, but exchange it or ...
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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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German economic growth in the 20th century

Regarding this great animation: Animation: The World’s 10 Largest Economies by GDP (1960-Today) I have the following questions: Why did Germany's GDP shrink so much from 1995 to 2000, while the GDP ...
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Is the concept of limited liability in corporate law beneficial to economy

The concept of limited liability in corporate law is widespread all over the world. Limited liability means, that owners of a company can only loose their capital invested into the company - the ...
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What is the wealth of a company?

I would like to better understand what is the wealth of a company and what is made of. Is the wealth of a company similar to GDP of country, like a "gross company product" ? As example: can we say ...
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Does GDP Income Approach hold?

Let me introduce my question with an example. There is a company producing cars. $20$ cars are produced, with a value market of $20000u$. $\textrm{GDP} = 20\cdot20000u = 400000u$. Assume that the ...
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Does a drop in GDP per capita, with the population staying around the same, mean people on average are poorer?

Essentially, I'm trying to determine if there is a correlation between a drop in GDP per capita (e.g. during the 2008 financial crisis, Australia's GDP per capita dropped from USD \$49,000 to $42,000 ...
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Who gathers the production/use data that makes up GDP? And how?

I know that GDP can be calculated from the national accounts using data which says how much of each industry's output was bought by each other industry. But how is this kind of supply/use data ...
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738 views

Increase in per capita GDP always means GDP is growing?

This question was asked in very popular civil services examination. Question is : Whether the following statement is correct or not? Statement : If a country is experiencing increase in its per-...
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Why are Canadian provinces' debt-to-GDP so much higher than the US?

By the current account, the highest debt-to-GDP state in the US is NY, which is around 23%, with most states around 18%. By comparison, Canadian provinces tend to have much higher ratio, with Ontario ...
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Inflation vs GDP growth as factors driving down the US debt-to-GDP ration post-WW2

I'm trying to figure out how much inflation (vs GDP growth) shrank the debt-to-GDP ratio (in the decade or so) post-WW2 in the US. I found one paper that says: In 1946, the debt ratio was 108.6 ...
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Assumptions in GDP calculation

The standard approaches for calculating GDP are: $$ \text{GDP} = \text{Consumer Spending + Capital Investments + Govt. Spending + Net Exports} $$ And $$ \text{GDP} = \text{Total wages + Profits + ...
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Why do expectations of inflation decrease SRAS (Short Run Aggregate supply)?

If firms and workers expect the prices to rise, the short run aggregate supply will shift to the left to SRAS2. (https://www.albert.io/blog/what-shifts-aggregate-demand-and-supply-ap-macroeconomics-...
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If you charge a single (indirect) tax rate, x% on all goods and services in a country, will you get x% back as tax revenues?

Assuming 100% compliance and no leakages, will charging a single tax rate of, say, 10% give us back 10% of the GDP back as tax revenues? What could these leakages be in real life that reduce this?
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Do I understand correctly that taxation-based government expenditures allow GDP to grow?

Suppose (it's an example) GDP= $1 000 000, Marginal Propencity to Consume(MPC)=0.25, that borrowing money is an absolute taboo for our government and that said government wants to increase GDP. What ...
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54 views

What does poorest country by population mean?

I understand poorest countries based on GDP but what does poorest countries by population mean? Below is the link to the information I was looking at. http://worldpopulationreview.com/countries/...
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Why does the US have public debt if they make more than that annually?

Probably a dumb question: I know next to nothing about economics and I'm just trying to make sense of what I'm trying to learn. So, I've been looking into GDP lately, trying to understand what it ...
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Name for a tax that captures all goods and services produced?

Is there a name for a consumption tax that basically captures the GDP (all goods and services produced in the nation)?
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What is low unemployment and low gdp growth symptomatic of?

Obviously there are caveats with GDP, if you build a bridge to nowhere it counts as GDP, but if you mow your own lawn or volunteer to pick up garbage it doesn't count, and so forth and so on. However, ...
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35 views

best books about GDP [closed]

i would appreciate titles on GDP--academic and lay. ty
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Predicting GDP contribution from market share

I want to find the GDP share of several companies, but I have their market share. Now we know that these two are not equal, and the market share to GDP ratio represents general overvaluation or ...
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Public Debt as Percent of GDP

My question relates to calculation total debt as percent of GDP (quarterly). Since debt is a stock and GDP is a flow, I can understand calculation it on an annual basis but not quarterly.
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313 views

How to calculate gdp of a company during promotion and loss? [closed]

Suppose a company is selling a good worthy of 200 dollars, but it was charging it for 100 dollars intending for promotion. And the company have to pay salaries of $200 per good, so it loses 100 ...
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Are government income and government employee wages counted in GDP? (income approach) [closed]

The Wikipedia article does not include it nor exclude it.
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Why is the consumption line and 45degree line's intersection not the equilibrium income level?

The question is as below The answer is A. I understand why it is A, but do not understand why it isn't C. Doesn't the point where the consumption line and 45 degrees line intersect represents the ...
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GNP v. GDP as a true measure of national vibrancy [closed]

Is the GNP a more realistic number or measure of national economic vitality regarding its citizenry/residents of the nation in question versus the GDP?
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How to solve duplicate couples error in unbalanced dataset

I am trying to perform a regression on unbalanced panel data in R. In order to set the data as panel data, I use the following code: ...
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How is GDP counted between different countries?

Sorry if this question is dumb, but I did not manage to find the answer on the web. The questions is as follows: As far as I understand, GDP is the total value of a country's production. It includes ...
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what is potencial GDP?

The Wikipedia defines potencial GDP as "the total capacity of a nation to produce goods and services". If this definition is correct than the potential GDP can only occur when the unemployment rate is ...
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Will the services rendered by a worker from an unorganized sector be counted in GDP?

My guess is it won't be because the unorganized sector isn't captured in GDP? but I read somewhere it will be. not sure if I am wrong or it was an error in the answer key. please help
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Shouldn't national Stock Indices proportional to GDP of the country?

I was looking at Japan: Japan's GDP trajectory and Nikkei 225. It seems from 2011 - 2015 the GDP contracted but the Nikkei has gone up. Would there be a good explanation for this ?
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If a Chinese person wants to buy an iPhone or any international goods, which GDP per capita would be a better indicator?

Which GDP per capita of a Chinese citizen would better reflect their affordability- Nominal GDP per capita or PPP GDP per capita of China? My question is would PPP would matter much in case of buying ...
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Why is it important to look at all three different ways when looking at the macroeconomy of a country?

we have and use three different ways of deriving the Gross Domestic Product namely Output, Income, and Expenditure (or final consumption) methods but why is it important to view the GDP from all three ...
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Are my conclusions correct in context of these examples of forceful extraction of money?

There are two examples, one for a bandit, the another one is for the government. Suppose we have a simple economy, a bandit and a teacher. The teacher can teach the bandit, but the bandit can't offer ...
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GDP(Expenditure view of GDP): /Why aren't investments categorized as non-final goods?

My understanding is that consumption = consumption of final goods = whatever consumers buy from companies (with an adjustment for export-import-process + maybe housing is slightly different (not ...
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Do I make correct conclusions about international trade (and ways to increase GDP) from the expedenture approach formula for GDP?

(Please correct me if my reasoning is wrong somewhere) Net Exports is a part of GDP and consequently its increase or a decrease also causes GDP to increase or decrease, assuming everything else stays ...
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Purchasing power of currency abroad

Say you have two countries A and B. Suppose we have a situation where country A's currency can purchase much more in country B than the other way round. What causes this phenomenen? Is it possible ...
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Taxes and GDP, where do these come in in the formula?

We all know that the formula for GDP I'd given by GDP = C + I + G + NX I would like to know, whether I am right in deducing that when consumers and industry pay taxes, or when there are import and ...
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292 views

How can I adjust the base year of this price index?

I am given the following data for GDP deflator: 1997: 100.0 1998: 100.8 1999: 102.5 2000: 109.9 2001: 112.5 2002: 115.9 2003: 119.7 2004: 122.1 2005: 126.5 ...and so on. Currently, 1997 is ...
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549 views

How can intermediate goods and final goods be differentiated?

The calculation of GDP(using expenditures) is: $C+I+G+Xn$, where we calculate the spending on final goods and services within a country. However, how exactly are final and intermediate goods ...
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GDP Calculation and treatment of Personal Savings

While calculating GDP of nation, how personal savings which is not invested in economy or has become part mandatory reserve ratio of government is treated? Similarly do we include import and export of ...

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