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    CONCEPT OF GDP:The best way to understand a country's economy is by looking at its Gross Domestic

    Product (GDP). This economic indicator measures the country's total output. This

    includes everything produced by all the people and all the companies in the country.

    To get everything produced by a country's citizens no matter where they are in the

    world you should look at Gross !ational Product (G!P) also called Gross !ational

    "ncome (G!").

    he components o# GDPare$ Personal %onsumption &pendituresplus usiness"nvestment plus Government pendingplus (&portsminus "mports). !ow that you

    know what the components are it's easy to calculate GDP using the standard #ormula$

    % * " * G * (+,-).Real GDP:To compare GDP #rom one year to another it's important to take out the eects o#in/ation. To do this the &0 calculates real GDP. "t does this by using a price de/atorwhich tells you how much prices have changed since a base year. 1eal GDP is gottenby multiplying the de/ator by the nominal GDP. The &0 provides real GDP using 2334as the base year inTable 5.5.6 1eal GDP.

    "t is there#ore lower than nominal GDP. To calculate real GDP the &0 makes threeimportant distinctions$5. "ncome #rom 7.. companies and people #rom outside the country are not

    included so the impact o# echange ratesand trade policies don't muddy up thenumber.

    2. The eects o# in/ationare taken out.8. 9nly the :nal product is counted so that i# someone in the 7.. makes

    shoelaces and it is used to make shoes in the 7.. only the value o# the shoe getscounted.

    GDP Growth Rate:The GDP growth rateis the percent increase in GDP #rom ;uarter to ;uarter. "t tellsyou eactly how #ast a country's economy is growing. -ost countries use real GDP toremove the eect o# in/ation."n the 7.. the &0 calculates the growth rate. .How GDP Aects You:"nvestors look at the GDP growth rate to see i# the economy is changing rapidly sothey can ad?ust their asset allocation. "n addition investors compare country GDP

    growth rates to decide where the best opportunities are. -ost investors like topurchase shareso# companies that are in rapidly growing companies.The

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    monetary policyto prevent in/ation. (


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