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GDP
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market according to the exchange rate. To compare economies over time inflation can be adjusted by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP (PPP) Per Capita
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country. In 2023, the estimated average GDP per capita (PPP) of all of the countries was Int$22,452. For rankings regarding wealth, see list of countries by wealth per adult. Method The gross domestic product (GDP) per capita figures on this page are derived from PPP calculations. Such calculations are prepared by various organizations, including the IMF and the World Bank. As estimates and assumptions have to be made, the results produced by different organizations for the same country are not hard facts and tend to differ, sometimes substantially, so they should be used with caution. Comparisons of national wealth are frequently made based on ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP (nominal) Per Capita
This is a list of countries by nominal GDP per capita. GDP per capita is the total value of a country's finished goods and services (gross domestic product) divided by its total population (per capita). Gross domestic product (GDP) per capita is often considered an indicator of a country's standard of living; however, this is inaccurate because GDP per capita is not a measure of personal income. Measures of personal income include average wage, real income, median income, disposable income and GNI per capita. Comparisons of GDP per capita are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries, ''see'' List of countries by GDP (PPP) per capita. PPP largely removes the exchange rate problem but not others; it does not reflect the value of economic output in international trade, and it also requires more estimation than GDP per capita. On the whole, PPP per capita figures are more narrowly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power Parity
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the Exchange rate, market exchange rate because of tariffs, and other transaction costs. The purchasing power parity indicator can be used to compare economies regarding their gross domestic product (GDP), labour productivity and actual individual consumption, and in some cases to analyse price convergence and to compare the cost of living between places. The calculation of the PPP, according to the OECD, is made through a ''basket of goods'' that contains a "final product list [that] covers around 3,000 consumer goods and services, 30 occupations in government, 200 types of equipment goods and about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Countries By GDP (nominal)
This is a list of lists of countries and territories by various criteria. A country or territory is a geographical area, either in the sense of ''nation'' (a cultural entity) or ''Sovereign state, state'' (a political entity).The Oxford English Dictionary, Second Edition, with online updates as of September 2008. Entry "1. country" Demographics Population * List of countries and dependencies by population * List of countries by population (United Nations) * List of countries by past and projected future population * List of countries and dependencies by population density * List of countries by past and future population density * List of countries by population growth rate * List of countries by net reproduction rate * List of countries by percentage of population living in poverty * List of countries by rate of natural increase * List of sovereign states by homeless population * List of sovereign states by immigrant and emigrant population * List of sovereign states by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Broad Measures Of Economic Progress
Although for many decades, it was customary to focus on Gross domestic product, GDP and other measures of national income, there has been growing interest in developing broad measures of economic well-being. National and international approaches include thBeyond GDPprogramme developed by the European Union, the Better Lives Compendium of Indicators developed by the OECD, as well as many alternative metrics of wellbeing or happiness. One of the earliest attempts to develop such an index at national level was Bhutan's Gross national happiness, Gross National Happiness Index and there are a now a number of similar projects ongoing around the world, including a project to develop for the United Kingdom, UK an assessment of national well-being, commissioned by the Prime Minister David Cameron and led by the Office for National Statistics. GNH The Gross National Happiness (GNH) phrase was initially used as an off-hand remark by the King of Bhutan to indicate his lack of interest in we ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unpaid Labor
Unpaid labor or unpaid work is defined as labor or work that does not receive any direct remuneration. This is a form of non-market work which can fall into one of two categories: (1) unpaid work that is placed within the production boundary of the System of National Accounts (SNA), such as gross domestic product (GDP); and (2) unpaid work that falls outside of the production boundary (non-SNA work), such as domestic labor that occurs inside households for their consumption. Unpaid labor is visible in many forms and is not limited to activities within a household. Other types of unpaid labor activities include volunteering as a form of charity work and interning as a form of unpaid employment. In a lot of countries, unpaid domestic work in the household is typically performed by women, due to gender inequality and gender norms, which can result in high-stress levels in women attempting to balance unpaid work and paid employment. In poorer countries, this work is sometimes perfor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real And Nominal Value
In economics, nominal value refers to value measured in terms of absolute money amounts, whereas real value is considered and measured against the actual goods or services for which it can be exchanged at a given time. Real value takes into account inflation and the value of an asset in relation to its purchasing power. In macroeconomics, the real gross domestic product compensates for inflation so economists can exclude inflation from growth figures, and see how much an economy actually grows. Nominal GDP would include inflation, and thus be higher. Commodity bundles, price indices and inflation A commodity bundle is a sample of goods, which is used to represent the sum total of goods across the economy to which the goods belong, for the purpose of comparison across different times (or locations). At a single point of time, a commodity bundle consists of a list of goods, and each good in the list has a market price and a quantity. The market value of the good is the market p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Burden
In economics, tax incidence or tax burden is the effect of a particular tax on the distribution of economic welfare. Economists distinguish between the entities who ultimately bear the tax burden and those on whom the tax is initially imposed. The tax burden measures the true economic effect of the tax, measured by the difference between real incomes or utilities before and after imposing the tax, and taking into account how the tax causes prices to change. For example, if a 10% tax is imposed on sellers of butter, but the market price rises 8% as a result, most of the tax burden is on buyers, not sellers. The concept of tax incidence was initially brought to economists' attention by the French Physiocrats, in particular François Quesnay, who argued that the incidence of all taxation falls ultimately on landowners and is at the expense of land rent. Tax incidence is said to "fall" upon the group that ultimately bears the burden of, or ultimately suffers a loss from, the tax. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OECD
The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, world trade. It is a forum (legal), forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members. The majority of OECD members are generally regarded as developed country, developed countries, with High-income economy, high-income economies, and a very high Human Development Index. their collective population is 1.38 billion people with an average life expectancy of 80 years and a median age of 40, against a global average of 30. , OECD Member countries collectively comprised 62.2% of list of countries by GDP (nominal), global nom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Economic Analysis
The Bureau of Economic Analysis (BEA) of the United States Department of Commerce is a U.S. government agency that provides official macroeconomic and industry statistics, most notably reports about the gross domestic product (GDP) of the United States and its jurisdictions. They also provide information about personal income, corporate profits, and government spending in their National Income and Product Accounts (NIPAs). The BEA is one of the principal agencies of the U.S. Federal Statistical System. Its stated mission is to "promote a better understanding of the U.S. economy by providing the most timely, relevant, and accurate economic data in an objective and cost-effective manner". BEA has about 500 employees and an annual budget of approximately $101 million. National accounts BEA's national economic statistics (National Economic Accounts) provide a comprehensive view of U.S. production, consumption, investment, exports and imports, and income and saving. These stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OECD Better Life Index
The OECD Better Life Index, created in May 2011 by the Organisation for Economic Co-operation and Development, is an initiative pioneering the development of economic indicators which better capture multiple dimensions of economic and social progress. The platform consists of a dashboard, that provides data and insights into key indicators - measuring areas such as wellbeing, environmental quality, quality of public services and security - alongside an interactive tool ''Your Better Life Index (BLI)'', which encourages citizens to create their own indexes by ranking each of the indicators according to the importance in their lives. The index and tool were created as part of the OECD Better Life Initiative. This initiative began in 2011 in line with the recommendations of the Commission on the Measurement of Economic Performance and Social Progress, also known as the Stiglitz-Sen-Fitoussi Commission, whose recommendations sought to address concerns that standard macroeconomic sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
