Please, explain me what is GDP in simply words?
Answer:
It is the amount of revenue of goods and services produced *within the year*, and within the country.
It includes all newly created goods and services plus inventories.
GDP fun facts and figures:
If stocks go up, that is not GDP.
If I buy a used car, again, no GDP.
If I buy a new car from Japan, still no GDP.
If I buy a Japanese owned plant in the US, we have GDP (GNP subtracts the profits that are sent back to Japan, GDP does not)
If a firm buys a carbon filter for its smoke stacks, only that amount gets to be GDP. All the lives saved is not part of GDP. In fact GDP may go down if we spend less on treating people from pollution born diseases.
If 95% of the people spend less, and 5% spend a lot more, GDP could rise. GDP is the amount produced in a year, regardless of who gets it.
Gross Domestic Product
It means Gross Domestic Product, and it basiclly means the total amount of revenue a nation produces.
the total value of everything in the county that was produced, that includes goods and services
Gross Domestic Product
Бруто Национален/Домашен Производ
БНП или БДП
It is Gross domestic product, but I don't know how best to explain it to you.
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