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Gross domestic product (GDP) refers to the market value of all officially recognized final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living;
GDP per capita is not a measure of personal income. See Standard of living and GDP.
It is not to be confused with Gross National Product (GNP) which allocates production based on ownership. Gross domestic product is related to national accounts, a subject in macroeconomics.
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Write short note on Domestic Income?
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Write short note on Domestic Income?
WikiAnswers will not do your homework for you. Nor will it write your discussion paper, critiques or essays. That is considered cheating. If you have a specific question in the subject we are more than willing to help.
Increased consumer spending will usually cause?
In the short run increased consumer spending causes an increase in Aggregate Demand and therefore an increase in both Real Gross Domestic Product and Price Levels. Also this generally means; inflation, decrease in unemployment, and growth, these can vary however, depending on where on the Aggregate Supply curve the AD curve is.
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