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Beyond GDP: other ways to measure the economyKey points Gross national product, or GNP, includes what is produced domestically and what is produced by domestic labor and business abroad in a year. National income includes all income earned: wages, profits, rent, and profit income. Net national product, or NNP, is GNP minus depreciation. Depreciation is the process by which capital ages...0 Comentários 0 Compartilhamentos 23K Visualizações 0 Anterior
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Comparing GDP among countriesKey Points Since GDP is measured in a country’s currency, in order to compare different countries’ GDPs, we need to convert them to a common currency. One way to compare different countries' GDPs is with an exchange rate, the price of one country’s currency in terms of another. GDP per capita is GDP divided by population....0 Comentários 0 Compartilhamentos 18K Visualizações 0 Anterior
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How well GDP measures the well-being of societyKey points GDP is an indicator of a society’s standard of living, but it is only a rough indicator because it does not directly account for leisure, environmental quality, levels of health and education, activities conducted outside the market, changes in inequality of income, increases in variety, increases in technology, or the—positive or negative—value that...0 Comentários 0 Compartilhamentos 13K Visualizações 0 Anterior
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Top 10 economies in terms of GDP by 2038Top 10 economies in terms of GDP by 2038 In 2024, global GDP growth is predicted at the same level as in 2023 - 3.1%. In the long term, the economy will continue to grow. By 2035, analysts expect a doubling of global GDP, but here are which countries will be in the lead in 2038. 1ST PLACE 🇨🇳 China China will...0 Comentários 0 Compartilhamentos 18K Visualizações 0 Anterior
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What Is GDP and How Is It Calculated?What Is GDP and How Is It Calculated? Gross Domestic Product, commonly known as GDP, is one of the most widely used measures in economics. Governments, businesses, investors, and the media rely on it to understand how an economy is performing. Although the term is often mentioned in news reports, its meaning and calculation are not always clear. This article explains what GDP is, why it...0 Comentários 0 Compartilhamentos 2K Visualizações 0 Anterior
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What is Macroeconomics? GDP, Inflation, and National PoliciesWhat is Macroeconomics? GDP, Inflation, and National Policies Macroeconomics is a branch of economics that studies the behavior, structure, and performance of an economy as a whole. Unlike microeconomics, which focuses on individual markets and consumer behavior, macroeconomics looks at the big picture—national economies, global trends, and how government policies influence overall...0 Comentários 0 Compartilhamentos 3K Visualizações 0 Anterior
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Aggregate demand in Keynesian analysisKey points Aggregate demand is the sum of four components: consumption, investment, government spending, and net exports. Consumption can change for a number of reasons, including movements in income, taxes, expectations about future income, and changes in wealth levels. Investment can change in response to its expected profitability, which in turn is shaped by...0 Comentários 0 Compartilhamentos 27K Visualizações 0 Anterior
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How Has Brexit Affected the UK Economy?How Has Brexit Affected the UK Economy? When the United Kingdom voted to leave the European Union in 2016 — a decision known as Brexit — it set in motion one of the most significant economic experiments in recent British history. The full effects of Brexit continue to unfold more than six years after the UK formally left the EU’s institutions and single market. Economists...0 Comentários 0 Compartilhamentos 1K Visualizações 0 Anterior
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What Is a Depression in Economics?What Is a Depression in Economics? In economics, a depression refers to a prolonged and severe downturn in economic activity. It is marked by sharp declines in production, employment, income, trade, and overall economic confidence. While the term is sometimes used loosely in everyday language, in economic analysis it has a specific meaning that distinguishes it from milder downturns such as...0 Comentários 0 Compartilhamentos 2K Visualizações 0 Anterior
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What Is a Recession?What Is a Recession? A recession is a period of significant decline in economic activity that lasts for an extended time, usually several months or longer. During a recession, many parts of the economy weaken at the same time: businesses sell less, unemployment rises, incomes grow more slowly or fall, and people tend to spend less money. Recessions are a normal, though painful, part of the...0 Comentários 0 Compartilhamentos 1K Visualizações 0 Anterior
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What Is Economic Growth?What Is Economic Growth?GDP Growth, Development, and Productivity Economic growth is one of the most widely discussed concepts in economics because it is closely linked to living standards, employment, and a country’s overall prosperity. Governments, businesses, and citizens often judge economic success by how fast an economy is growing. However, economic growth is more than just a...0 Comentários 0 Compartilhamentos 1K Visualizações 0 Anterior
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