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Unformatted text preview: investment or spending on houses and factories among others. A component of the income approach GDP is the total final expenditure which is total domestic expenditure and exports of goods and services. Another way is the income approach which adds wages and salaries of employees, income from self employment, trading profits of companies, trading surpluses of government corporations and enterprises and the income from rents. In the United States, GDP data including GDP in current dollars and in chained dollars, currently 2005 is the base year, is regularly communicated by the Bureau of Economic Analysis in its web site. Earliest data is 1929. The trend shows a decline in 2009 for both the GDP in current and chained 2005 dollars for the first time since GDP data were made available. This trend will probably continue for 2010 and the next year. Nevertheless, the compounded annual growth rate of the US GDP in terms of current dollars from 1929 to 2009 is 6.35%....
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- Spring '12
- Economics, Gdp, gross domestic product, GDP Growth Rate, Measures of national income and output