the third quarter of 2015 and a record low of 944320 PHP Million in the second quarter of 1998. Gross National Product in Philippines is reported by the Philippine National Statistical Coordination Board. PHILIPPINE ECONOMY POSTS 6.0 PERCENT GDP GROWTH GDP grew year-on-year by 6.0 percent in the third quarter of 2015. This is higher than the growth rates of 5.8 percent in the second quarter of 2015 and the 5.5 percent in the third quarter of 2014. The third quarter growth was driven by the
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expenditure and taxation. If the economy is in recession, the government could increase government expenditure and/cut taxes. This is called expansionary fiscal policy and the effect would be a higher level of aggregate demand and hence a multiplier rise in GDP and lower unemployment. If the economy was expanding too rapidly in a way that was unsustainable and hence with rising inflation, the government could do the reverse by using deflationary fiscal policy : it could cut government expenditure and/or raise
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GREEN GDP Green GDP is an attempt by economists to measure the growth of an economy compared to the harm production does to the environment. This is done by subtracting the costs of environmental and ecological damage done in a specific period of time from the gross domestic product, or GDP, from that some time. As a result, the damage done to the environment as a whole is factored into the equation to give a clearer picture of the consequences of growing an economy. Unfortunately, green
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GDP Gross domestic product (GDP) defines aggregate output as the dollar value of all final goods and services produced within the borders of a country during a specific period of time, typically a year. Gross domestic purchases prices— increased 1.3 percent in the third quarter after increasing 1.5 percent in the second quarter. Because most products go through a series of production stages before they reach the market, some of their components are bought and sold many times. To avoid counting
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1. Real GDP for 2009 was $14,418.7 billion a. GDP tells us the total dollar value of all goods and services produced over a specific time period. b. In 2009 GDP decreased from $14,718.6 billion in 2008. c. These changes were due to a decrease in the market economic activity. 2. The GNP for 2009 was $14.56 trillion a. GDP is output produced within a country’s borders; GNP is output produced by a country’s citizens. b. The GNP was lower in 2008 at $14.35 trillion. c. These changes were
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Study Questions 1 (GDP) Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Gross domestic product is a measure of the total value of all A) consumer income in an economy over a period of time. B) capital accumulation in an economy over a period of time. C) sales in an economy over a period of time. D) final goods and services produced in an economy over a period of time. 1) 2) If Nike, an
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The high growth of GDP, not only the material life of our people has been greatly improved and enriched, enhanced China's international competitiveness and attractiveness, but also greatly enhance China's international political status. However, GDP exposed its defects with increasing of the resources and environmental issues. Like the news article write, although China's GDP in recent years has greatly improved, China and developed countries still have a big gap. GDP does not reflect the real employment
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An Assignment On Relationship between GDP & HDI Submitted ToCourse Instructor Of B-University of DhakaDepartment of Banking | Submitted ByMd. Yasir ArafatId No. 62B.B.A 13th BatchDepartment of BankingUniversity of Dhaka | Date of Submission08.o7.09 | Introduction to GDP A region's gross domestic product, or GDP, is one of the ways of measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within
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The world saw a dramatic growth in real GDP per capita during the 19 and 20 century. This was the most significant advance in the history of the world. I believe that technological progress accounts for the largest parts of the sharp rise in real world GDP per capita over the last two centuries. Until the 18th century, the real world GDP per capita almost remained stable. In the 19th century, the Industrial Revolution occurred in Great Britain. The inventions such as the steam engine encouraged
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GDP (or Gross Domestic Product), is defined as, “aggregate output as the dollar value of all final goods and services produced within the borders of a country during a specific period of time, typically a year” (McConnell, Brue, & Flynn, 2012). This measures the value of the output in monetary terms, and you can check current trends of the GDP by taking a look at the Bureau of Economic Analysis document GDP decline in First Quarter. In the BEA release highlights document, you can see
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