what is the expansion for GPD?
Answers
Answer:
GPD stands for Gross Primary Deficit.
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Answer:
What is the expansion of GDP?
Hello,
It measures the value created in one economy, in one year. So, if you create value for others (value added), if use value yourself (final sales) and if you receive incomes from your work or invested capital (salaries and profits), this is all captured by GDP.
In practice, the sum of final sales - consumption approach is mostly used. GDP is then calculated in this way:
GDP = C+I+G+X-Z
C - consumption
I - investments
G - government consumption
X - exports
Z - imports
But, I emphasize, GDP is not a crude, physical thing, that just measures pilling of more and more products and services. As I said, in essence, it measures the value created in one economy. And created value is usually asociated with enhancing capabilities of human beings, whether we look at capabilities to survive (food, drinks, health products and services etc.), capabilities to ensure safety (housing, etc.), capabilities to network with other people, capabilities to improve yourself and help others (learning, books, etc.). All of this is done by some products and services
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