Chamber+of+Commerce

Chamber+of+Commerce - Wages and salaries of employees +...

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Expected U.S. GDP Growth Rate Going Forward
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GDP v. GNP Gross national product Money measure Good and services Produced by ALL residents within and without the country’s physical borders Gross domestic product Money measure Good and services Produced within a country’s borders
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Measuring GDP Identifying the total economic activity within a certain period Identifying the impact of government fiscal and monetary policies on the economy
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Measuring GDP Income approach Expenditure approach
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Expenditure Approach Consumption (spending on items such as food and clothing) + investment (spending on houses, factories, and so on) = total domestic expenditure + exports of goods and services (foreigners’ spending) = total final expenditure - imports of goods and services (spending abroad) = GDP
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Income Approach
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Unformatted text preview: Wages and salaries of employees + income from self-employment + trading profits of companies + trading surpluses of government corporations and enterprises + income from rents = GDP US Bureau of Economic Analysis Regularly reports economic data GDP in current dollars GDP in chained 2005 dollars Data from 1929 to 2009 GDP Trend GDP Growth Rate Compounded annual growth rate GDP in billions of current dollars GDP in billions of chained 2005 dollars 1929-1940-0.19% 1.63% 1941-1950 8.77% 3.92% 1951-1960 4.49% 2.74% 1961-1970 6.66% 3.96% 1971-1980 9.48% 2.84% 1981-1990 6.37% 2.98% 1991-2000 5.20% 3.43% 2001-2009 3.69% 1.51% GDP Growth Rate Compounded annual growth rate from 1929 to 2009 6.35% References US Bureau of Economic Analysis...
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This note was uploaded on 02/17/2012 for the course ITCO 101 taught by Professor Gugenhiem during the Spring '12 term at AIU Online.

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Chamber+of+Commerce - Wages and salaries of employees +...

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