GDP Counts Goods at the Time They Are Produced

GDP counts the value of goods and services at the time they are produced, not necessarily when they are officially sold or resold. This has two implications. First, the value of used goods that are resold doesn't count in GDP, though a value-added service associated with reselling the good would be counted in GDP. Second, goods that are produced but not sold are viewed as being purchased by the producer as inventory and thus counted in GDP when they are produced.

GDP Counts Production Within an Economy's Borders

The most notable recent change in measuring an economy's income is the switch from usingGross National Product to using Gross Domestic Product. In contrast to Gross National Product, which counts the output of all of an economy's citizens, Gross Domestic Product counts all output that is created within the borders of the economy regardless of who produced it.

GDP Is Measured Over a Specific Period of Time

Gross Domestic Product is defined over a specific period of time, whether it be a month, a quarter, or a year.

It's important to keep in mind that, while the level of income is certainly important to the health of an economy, it's not the only thing that matters. Wealth and assets, for example, also have a significant effect on standard of living, since people not only buy new goods and services but also get enjoyment from using the goods that they already own.

Will Hurricane Katrina increase GDP?

The short answer is "No". The reason why the hurricane will not be good for the economy is relatively straightforward. That $200 billion dollars spent on the reconstruction has to come from somewhere - it's not new productivity that suddenly emerges. Money spent on the reconstruction is money not spent on other projects, or on reducing government debt, or on tax cuts.

Вариант 5

1. Поставьте предложения в страдательный залог (Образец: Mother waters the flowers in the evening. — The flowers are watered in the evening (by mother). Переведите исходное предложение и предложение в страдательном залоге.

1. They developed a new method of teaching. 2. Everybody will see the new film soon. 3. The teacher corrects our exercises at home.4. The students are translating a text during the lesson. 5. The students have passed a difficult examine History.

2. Раскройте скобки, употребляя глаголы в Active или Passive Voice. Переведите предложения.

1. The Examination Board (has put/has been put) all the graduates good and excellent marks. 2. They (are discussing/are being discussed) the results of the new experiment at present. 3. We (shall mee/shall be met) by our friends at the station tonight. 4. Helen's mother (taught/was taught) her daughter English and music in her childhood. 5. I (was invited/invited) to the conferernce last week.

3. Раскройте скобки, употребляя глаголы в Passive Voice. Переведите предложения.

1. Care (to take) about the child soon. 2. He is very foolish and often (to laugh) at. 3. The ground (to cover) by in winter. 4. I (to teach)t music and singing at school 10 years ago. 5. It (to plan) to solve the world's energy problem with the technological means at our disposal.

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