- published: 18 Nov 2015
- views: 173437
Gross domestic product (GDP) is a monetary measure of the value of all final goods and services produced in a period (quarterly or yearly). Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. Nominal GDP however do not reflect differences in the cost of living and the inflation rates of the countries; therefore using a GDP PPP per capita basis is arguably more useful when comparing differences in living standards between nations.
GDP is not a complete measure of economic activity. It accounts for final output or value added at each stage of production, but not total output or total sales along the entire production process. It deliberately leaves out business-to-business (B2B) transactions in the early and intermediate stages of production, as well as sales of used goods. In the United States, the Bureau of Economic Analysis (BEA) has introduced a new quarterly statistic called gross output (GO), a broader measure that attempts to add up total sales or revenues at all stages of production.Mark Skousen was the first economist to advocate GO as an important macroeconomic tool. Other countries are following suit, such as the United Kingdom, which now producing an annual statistic called Total Output.
Domestic product may refer to:
Khan Academy is a non-profit educational organization created in 2006 by educator Salman Khan with the aim of providing a free, world-class education for anyone, anywhere. The organization produces short lectures in the form of YouTube videos. In addition to micro lectures, the organization's website features practice exercises and tools for educators. All resources are available for free to anyone around the world. The main language of the website is English, but the content is also available in other languages.
The founder of the organization, Salman Khan, was born in New Orleans, Louisiana, United States to immigrant parents from Bangladesh and India. After earning three degrees from the Massachusetts Institute of Technology (a BS in mathematics, a BS in electrical engineering and computer science, and an MEng in electrical engineering and computer science), he pursued an MBA from Harvard Business School.
In late 2004, Khan began tutoring his cousin Nadia who needed help with math using Yahoo!'s Doodle notepad.When other relatives and friends sought similar help, he decided that it would be more practical to distribute the tutorials on YouTube. The videos' popularity and the testimonials of appreciative students prompted Khan to quit his job in finance as a hedge fund analyst at Connective Capital Management in 2009, and focus on the tutorials (then released under the moniker "Khan Academy") full-time.
Crash Course (also known as Driving Academy) is a 1988 made for television teen film directed by Oz Scott.
Crash Course centers on a group of high schoolers in a driver’s education class; many for the second or third time. The recently divorced teacher, super-passive Larry Pearl, is on thin ice with the football fanatic principal, Principal Paulson, who is being pressured by the district superintendent to raise driver’s education completion rates or lose his coveted football program. With this in mind, Principal Paulson and his assistant, with a secret desire for his job, Abner Frasier, hire an outside driver’s education instructor with a very tough reputation, Edna Savage, aka E.W. Savage, who quickly takes control of the class.
The plot focuses mostly on the students and their interactions with their teachers and each other. In the beginning, Rico is the loner with just a few friends, Chadley is the bookish nerd with few friends who longs to be cool and also longs to be a part of Vanessa’s life who is the young, friendly and attractive girl who had to fake her mother’s signature on her driver’s education permission slip. Kichi is the hip-hop Asian kid who often raps what he has to say and constantly flirts with Maria, the rich foreign girl who thinks that the right-of-way on the roadways always goes to (insert awesomely fake foreign Latino accent) “my father’s limo”. Finally you have stereotypical football meathead J.J., who needs to pass his English exam to keep his eligibility and constantly asks out and gets rejected by Alice, the tomboy whose father owns “Santini & Son” Concrete Company. Alice is portrayed as being the “son” her father wanted.
Picture the economy as a giant supermarket, with billions of goods and services inside. At the checkout line, you watch as the cashier rings up the price for each finished good or service sold. What have you just observed? The cashier is computing a very important number: gross domestic product, or GDP. GDP is the market value of all finished goods and services, produced within a country in a year. But, what does "market value" mean? And what defines a "finished good"? These, and more questions, percolate inside your head. Meanwhile, the cashier starts ringing up the total, and you’re left confused. An array of things pass by you — A bottle of wine. A carton of eggs. A cake from the local bakers. A tractor, of all things. A bunch of ballpens. A bag of flour. In this video, join us as ...
GDP data are among the most important economic data available for measuring economic growth, but measuring the output of a large, dynamic economy is a complex task. In the seventh episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains what GDP measures, how it is calculated, how it is useful in determining whether and how quickly the economy is growing, and how GDP can be used as indicator of standard of living.
In this short video I explain GDP, the components of GDP, and what is not included in the Gross Domestic Product. Thanks for watching, please subscribe If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji
Thinking about how different types of expenditures would be accounted for in GDP Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm;_medium=Desc&utm;_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/income-and-expenditure-views-of-gdp?utm_source=YT&utm;_medium=Desc&utm;_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their ...
This video defines the value-added GDP and details how it is measured. Transcript: http://www.statcan.gc.ca/eng/sc/video/gdp
This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics, and the major movers in the economy. Like taxes and monetary policy and inflation and policy. We need this stuff, because if you don't have a big picture of the economy, crashes and panics are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment, unemployment Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclas...
The gross domestic product is the ultimate yardstick of a country’s economy. An increase means companies are making profits and the economy is growing. But if there's negative economic growth for two consecutive quarters, however, it’s recession time. This is why all eyes and ears are on the business gurus and their forecasts for the GDP. More Made in Germany on: http://www.dw.de/program/made-in-germany/s-3066-9798
The third macroeconomic goal is 'High & Sustained Growth,' but growth of what? This video explains what GDP is, and the expenditure approach to GDP. "(Macro) Episode 20: GDP" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
GDP is a term that is used a lot in the media usually in relation to the how much business your country is creating or the economy but what would it actually mean? Presented by William Dyer. There are going to be more of these videos to come on politics, the economy and current affairs (THE NEWS). -- Me on the INFO WEB :) -- Twitter: @WilliamPHDyer Facebook: /williamphdyer Email: democracydefined@gmail.com All facts are correct at the time of recording.
Hey Everyone, This is video 5 of 12 videos in "The Fundamentals of Macroeconomics Series". Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkG6AmW4E2YNV_hBP0AVuw4v As a teacher of IB Economics in Santiago, Chile, these videos were created to help students navigate their way through their two-year course of study. I have made these videos public in the hope that they might be helpful to other Economics students around the world. Check out all of the Macroeconomic playlists… Fundamentals of Macroeconomics Series: https://www.youtube.com/playlist?list=PLNI2Up0JUWkG6AmW4E2YNV_hBP0AVuw4v Aggregate Demand and Aggregate Supply Series: https://www.youtube.com/playlist?list=PLNI2Up0JUWkGyyUCGXdTWNgfkKJ9_0l6q Macroeconomic Equilibrium Series: https://www.y...
Picture the economy as a giant supermarket, with billions of goods and services inside. At the checkout line, you watch as the cashier rings up the price for each finished good or service sold. What have you just observed? The cashier is computing a very important number: gross domestic product, or GDP. GDP is the market value of all finished goods and services, produced within a country in a year. But, what does "market value" mean? And what defines a "finished good"? These, and more questions, percolate inside your head. Meanwhile, the cashier starts ringing up the total, and you’re left confused. An array of things pass by you — A bottle of wine. A carton of eggs. A cake from the local bakers. A tractor, of all things. A bunch of ballpens. A bag of flour. In this video, join us as ...
GDP data are among the most important economic data available for measuring economic growth, but measuring the output of a large, dynamic economy is a complex task. In the seventh episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains what GDP measures, how it is calculated, how it is useful in determining whether and how quickly the economy is growing, and how GDP can be used as indicator of standard of living.
In this short video I explain GDP, the components of GDP, and what is not included in the Gross Domestic Product. Thanks for watching, please subscribe If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji
Thinking about how different types of expenditures would be accounted for in GDP Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm;_medium=Desc&utm;_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/income-and-expenditure-views-of-gdp?utm_source=YT&utm;_medium=Desc&utm;_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their ...
This video defines the value-added GDP and details how it is measured. Transcript: http://www.statcan.gc.ca/eng/sc/video/gdp
This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics, and the major movers in the economy. Like taxes and monetary policy and inflation and policy. We need this stuff, because if you don't have a big picture of the economy, crashes and panics are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment, unemployment Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclas...
The gross domestic product is the ultimate yardstick of a country’s economy. An increase means companies are making profits and the economy is growing. But if there's negative economic growth for two consecutive quarters, however, it’s recession time. This is why all eyes and ears are on the business gurus and their forecasts for the GDP. More Made in Germany on: http://www.dw.de/program/made-in-germany/s-3066-9798
The third macroeconomic goal is 'High & Sustained Growth,' but growth of what? This video explains what GDP is, and the expenditure approach to GDP. "(Macro) Episode 20: GDP" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
GDP is a term that is used a lot in the media usually in relation to the how much business your country is creating or the economy but what would it actually mean? Presented by William Dyer. There are going to be more of these videos to come on politics, the economy and current affairs (THE NEWS). -- Me on the INFO WEB :) -- Twitter: @WilliamPHDyer Facebook: /williamphdyer Email: democracydefined@gmail.com All facts are correct at the time of recording.
Hey Everyone, This is video 5 of 12 videos in "The Fundamentals of Macroeconomics Series". Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkG6AmW4E2YNV_hBP0AVuw4v As a teacher of IB Economics in Santiago, Chile, these videos were created to help students navigate their way through their two-year course of study. I have made these videos public in the hope that they might be helpful to other Economics students around the world. Check out all of the Macroeconomic playlists… Fundamentals of Macroeconomics Series: https://www.youtube.com/playlist?list=PLNI2Up0JUWkG6AmW4E2YNV_hBP0AVuw4v Aggregate Demand and Aggregate Supply Series: https://www.youtube.com/playlist?list=PLNI2Up0JUWkGyyUCGXdTWNgfkKJ9_0l6q Macroeconomic Equilibrium Series: https://www.y...
A presentation on How Gross Domestic Product (GDP) is measured or calculated using the popular methods of Income Approach, Expenditure Approach, Value Added Approach, Consumption Approach, Production Approach. Also explained is how economic system works. Concepts like Real GDP and GDP Deflator are also explained. Helpful for students preparing for IAS, UPSC, CFA, MBA, and other finance, management and capital market related courses. GDP calculation in India, GDP deflator, How GDP is calculated in India, how to calculate GDP
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Using the slides from Mankiw's "Principles of Economics" textbook
Principles of macroeconomics; The General Theory of Employment, Interest and Money; John Maynard Keynes; Economic and macroeconomic study of individual decision making; scarce resources; market economy; market mechanism; market equilibrium; magic of markets; long run growth; fundamental theorem of welfare economics; optimal allocation of resources; no free lunch; Pareto optimality; John Maynard Keynes; The General Theory of Employment, Interest and Money; indicators and performance; gross domestic product (GDP) for United States (USA); recessions are an interruption of the increase of GDP; rate of inflation; unemployment; Political economy or economics is a study of mankind in the ordinary business of life; Alfred Marshall; hypothesising; hypothesizing; long run economic growth; macroecono...
In this lecture, we'll learn the meaning and computation methods of gross domestic product (GDP), including 1) income method 2) Expenditure method 3) gross value added method- with their textbook formulas vs. real life formulas by central statistical office (CSO). We'll also learn, the growth rate puzzles in the third and fourth quarters in 2016-17, after the demonetization vs. the theoretical foundations of MV=PY. Misc: terms- Gross National Product (GNP), National National Product, per capita national income, Net Disposable Income Plus, Gross Happiness Index by UN’s Sustainable Development Solutions Network (SDSN) and India's latest ranking in 2017. - Faculty Name: You know who - All Powerpoint available at http://mrunal.org/powerpoint - Exam-Utility: UPSC IAS IPS Civil service exa...
Consumer debt can be defined as 'money, goods or services provided to an individual in lieu of payment.' Common forms of consumer credit include credit cards, store cards, motor (auto) finance, personal loans (installment loans), consumer lines of credit, retail loans (retail installment loans) and mortgages. This is a broad definition of consumer credit and corresponds with the Bank of England's definition of "Lending to individuals". Given the size and nature of the mortgage market, many observers classify mortgage lending as a separate category of personal borrowing, and consequently residential mortgages are excluded from some definitions of consumer credit - such as the one adopted by the Federal Reserve in the US. The cost of credit is the additional amount, over and above the amount...
video on gross domestic product, or GDP. includes the definition of GDP, the multiple ways to view the figure, and real vs nominal GDP.
Gross Domestic Product is evaluated. Details everything you ever wanted to know about Gross Domestic Product. You can order the entire macroeconomics course at animationeconomics.com.