Ryan Fitts_BU204-10-_Unit_5_Homework

Ryan Fitts_BU204-10-_Unit_5_Homework - Ryan Fitts Course...

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Ryan Fitts Unit: 5 Nov 20, 2010 Key Terms – Definitions “GDP per Capita "Total market value of the goods and services produced by a nation's economy during a specific period of time. GDP is customarily reported on an annual basis. It is defined to include all final goods and services - that is, those that are produced by the economic resources located in that nation regardless of their ownership and are not resold in any form. GDP differs from gross national product (GNP), which is defined to include all final goods and services produced by resources owned by that nation's residents, whether located in the nation or elsewhere." ~ Britannica Concise Encyclopedia. ( Kundan Pandey 6/22/2010) To me, the GDP per capita is the value of what our nation has produce at any given period of time. It expresses the amount that our country is worth by what we have in inventory that can be sold in a future date. Labor productivity
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This note was uploaded on 05/26/2011 for the course BUS 204 taught by Professor Enricodigiammarinojr during the Fall '10 term at Kaplan University.

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Ryan Fitts_BU204-10-_Unit_5_Homework - Ryan Fitts Course...

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