Custom Gross Domestic Product essay paper writing service

← Financial ReportingWage Rigidity →

Buy Gross Domestic Product essay paper online

Gross Domestic Product (GDP) is the measure of the overall economic productivity of a country. This implies that the GDP is the fiscal value of all the manufactured goods and services created within the borders of a country within a particular duration, although GDP is normally computed on yearly terms. Gross Domestic Product comprises all of the private and public expenditure, investments and exports less imports that occur within a defined territory and government outlays. The quantification of the overall economic output in a country requires evaluation of all sources of income and transactions. GDP estimation encompass the summation of private consumption (C), government spending (G), sum of all the country's businesses spending on capital (I) and nation's total net exports (NX). The mathematical representation of the GDP would be:

GDP = C + G + I + NX

GDP accompany a number of shortcomings as a measure of economy’s performance. GDP does not account for transactions that are executed in places other than the market (Barro, 2008). For instance a mechanic repairing his own car is an activity that is not considered as an output. This is an activity that is considered in the GDP model as a voluntary activity and it is not considered as a transaction. Nonetheless, this is an activity that involves all technicalities as it would have been in the garage by a different mechanic. The GDP is not precise in this case because of this bias and the total output is not incorporated.

GDP as a measure does not consider the improved quality of products. The current involvement of computers in daily operations such as documentation and communication has led to a significant improvement. However, GDP does not account for the improvement in its provisions (Barro, 2008).

The black market exchanges and the underground economy are not included in GDP. Activities such as gambling and smuggling of drugs yield significant amounts of money to the economies of the subject countries. It should be understood that these activities and their output are not incorporated in GDP computations.

Therefore, GDP is not a good tool for measuring the well being and welfare of a nation because the economic output should cater for all sources of income and the transactions to be precise (Barro, 2008).

Buy Gross Domestic Product essay paper online

Related essays

  1. Wage Rigidity
  2. Reason for Ineffective Monetary Policy
  3. Financial Reporting
  4. Criteria Selection
 
order now
Live chat!
Planets Live support online chat Live support phone
Our Advantages
300 Words per page
Bottom line
12 pt Times New Roman Double-spaced typed page
Bottom line
MBA and PhD Writers
Bottom line
Relevant and up-to-date
Bottom line
US Writers
Bottom line
100% Quality Guarantee
Bottom line
24/7 Support
Bottom line
24/7 Live Chat
Bottom line
Flexible Discount Program
Bottom line
ANY Difficulty Level!
Testimonials

Thank you, EssaysProfessors.com, for hiring writer #4324. This writer just completed the most beautiful thesis I could have hoped for! From the first sentence to the last, my thesis was informative, intelligent-sounding, well-organized and perfect! I am happy with my choice to use EssaysProfessors.com as my writing service. Thank you for all that you did on my behalf.


Lucy L., Colorado Springs, CO, USA

Before I give an absolutely rave review of the writer who did such a fantastic job on my book review, I would like to thank you for the courtesy and respect I was afforded by your customer service department. I had some very specific special instructions that I had to convey to my writer, and your customer service agents helped me tremendously. The writer completed my book review early, and I received a perfect score. I am so happy with the work that he or she did! Thank you, EssaysProfessors.com. You are the very best.


Nancy G., New York, New York, USA

I am not at all disappointed by the output from writer #9834. He is simply amazing.


David S., Canberra, Canada

X
-15% first order  Order now