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Unformatted text preview: for countries.
Exhibit 11-2 on the next page shows the
GDP for certain countries and for the
world in 2004. double counting
Counting a good more
than once in computing
GDP. Section 1 National Income Accounting 289 11 (286-309) EMC Chap 11 Why do countries think it is
important to keep
track of their GDP? 11/17/05 EXH I BIT 6:05 PM Page 290 11-2 GDP in 2004, the
World and Selected
Countries Country World
Country or World
United States GDP
(in trillions of dollars)
2.36 United Kingdom
United Kingdom 1.78
M e x i co 1.01
1.01 Source: CIA World Factbook, 2005. Does GDP Omit Anything?
Some exchanges that take place in an
economy are omitted from the GDP measurement. The following are not included
when calculating GDP. Illegal Goods and Services
For something to be included in the...
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This document was uploaded on 01/16/2014.
- Winter '14