01/28/16    Gross Domestic Product-  

the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

Formula- C + IG + G + Xn

C- Personal Consumption Expenditures [65%] (Tory Burch, Louis Vuitton, etc..)

IG- Gross (total) Private Domestic Investment [17%] (House being built but not sold)

1.) Factory Equipment Maintenance   2.) New Factory Equipment   

3.) Construction of Housing    4.) Unsold Inventory Built

G- Government Spending: [20%] (Teacher salary in a year)

Xn- Net Exports (Exports - Imports)

GNP- Total Market Value of all final goods and services by citizens of that country on its land or foreign land.     Ex. Nike using Indonesia to make shoes.

NDP- Net Domestic Product (GDP - Depreciation)

NNP- Net National Product (GNP - Depreciation)

GNP- Gross National Product (GDP + Net Foreign Factor Payment)