Nobody downloaded yet

Real GDP - Coursework Example

Comments (1) Cite this document
The paper "Real GDP " describes that human development is a great way to improve the GDP growth in long run as well and when GDP would increase then it is a sign of the growth of overall economy. This is a single phenomenon which can lead to long run growth, apart from this all the policies and strategies will lead to a steady state of economy in long run. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
Real GDP
Read TextPreview

Extract of sample "Real GDP"

Download file to see previous pages The overall macroeconomic picture of United Kingdom looks quite bright as the country remained successful in increasing the real GDP growth until 2008 recession which hit the country hard and after almost two decades, the country experienced negative growth in terms of real GDP. Before this recent negative growth rate in GDP, the country in question experienced negative growth in real GDP in 1991 once again due to economic recessionary period. The above chart shows the performance of real GDP of United Kingdom. As it can be seen quite clearly that the country managed a sustainable increase in the real GDP especially experience high growth in the period of 1980-90, but the real GDP showed disappointing results just after 90’s. After the 1993, the country again started to climb highly in terms of real GDP till 2008 recession. Since 2008 recession, the country’s real GDP growth is the slowest in the past 40 years.  Real GDP per capita of United Kingdom has also remained increasingly stable even though the population of United Kingdom has also increased. But the country has managed to cover the effect of population increase as well as increased the real GDP alone. In a nutshell, the real GDP per capita of United Kingdom increased in almost in the same manner as that of total real GDP even though the real GDP per capita also incorporated the increasing impact of population. The above chart represents the overall performance of real GDP per capita of United Kingdom. It can be noticed that there are slight downfalls in the curve but the overall curve possesses an increasing trend until the 2008 recessionary period. Since then, the real GDP per capita is on a declining trend mainly due to decrease in the total real GDP supported by the increase in the population. The percentage growth rates for real GDP and real GDP per capita have also been calculated. It can also be observed that growth rate of real GDP has experienced an increasing trend in the period of 1970 – 2009 with the exceptions of initial few year of 70’s, 1991 and lastly 2008. In those mentioned years the macroeconomic growth of United Kingdom remained negative due to the economic depression all around the world. Similar patterns can also be observed with real GDP per capita of United Kingdom in the period in question. Real GDP per capita seems to track its origin i.e. real GDP and followed it almost every year. It can be summarized the United Kingdom has been well above the positive real GDP in the past 40 years which is a good indicator of its overall macroeconomic progress. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Real GDP Coursework Example | Topics and Well Written Essays - 2000 words”, n.d.)
Real GDP Coursework Example | Topics and Well Written Essays - 2000 words. Retrieved from
(Real GDP Coursework Example | Topics and Well Written Essays - 2000 Words)
Real GDP Coursework Example | Topics and Well Written Essays - 2000 Words.
“Real GDP Coursework Example | Topics and Well Written Essays - 2000 Words”, n.d.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
gutkowskihermin added comment 4 months ago
Student rated this paper as
The topic of "Real GDP" is quite popular among the assignments in high school. Still, this example opens a new perspective of seeing the problem. I’ll use the style for my own example.


Covering the measurement and calculation of Real GDP

...? Managerial economics Contents Introduction 3 Covering the measurement and calculation of Real GDP 5 Analysis of the advantages of using Real GDP 5 Analysis of the disadvantages of using Real GDP 7 Conclusion 9 References 12 Introduction The market value of all goods as well as services produced within the geographical boundaries of the country within a particular time period is regarded as Gross Domestic Product. The standard of living of a country is often measured by the per capita GDP. It will not be wise to think GDP per capita to be the measure of personal income. If the economic theories are taken...
12 Pages(3000 words)Assignment


... crisis. Most of the banks terminated withdrawals, the housing bubble that had peaked in 2006 fell and this caused the real estate prices to plummet. All the financial institutions were closed. The global recession affected the entire world economy. Recessions pose significant challenges with regard to the accuracy of economic indicators such ad GDP (Taylor 46). In America the real GDP began contracting in the third quarter of 2008. The countries that were affected had to obtain an economic stimulus from G-20 group members that played a major role in the economic and crisis management. The Federal reserve, security and Exchange Commission also help to intervene the crisis and return he economy to normalcy. The area that is shaded... ...
7 Pages(1750 words)Essay

Real GDP

...Real GDP Part Formula used and Calculation of real GDP in 2004 prices Formula used: 2004 Price x GDP Year Quantity = GDP year quantity CD's x 2004 CD price +GDP year quantity racquets x 2004 racquet price Year Real GDP calculation and result % change in real GDP between 2004 and 2005 (2004 prices) 2004 110x$18+200x$90=$19,980 ($21,060-$19,980)/$19,980 x 100 = 5.41% 2005 120x$18+210x$90=$21,060 Part 2: Formula used and Calculation of value of price index for 2005 using 2004 as base year. Formula used: Price Index = (GDP year CD price x 2004 CD quantity + GDP year racquet price x 2004 racquet quantity)/(2004 CD price x 2004 CD quantity + 2004 racquet price x 2004 racquet quantity)x100 Year Calculation... of ...
2 Pages(500 words)Essay

Nominal and Real GDP

...Nominal and Real GDP Gross Domestic Product (GDP), as the suggests, is the total of all the products produced by any country. This is good measure to understand the size of an economy. There are references in literature where the GDP of some African countries are equivalent to the revenues of General Motors (GM). This showcases the difference in GDP across the world. Massive economic calculations are required to arrive at these GDP numbers. Irrespective of the methods, GDP is quoted either as Nominal GDP or Real GDP. The words nominal and real signify the same meaning as in interest rates or any other concept where these are used. As per common belief nominal GDP is the total of all the products and services produced by a country... is not...
2 Pages(500 words)Essay


...Macro Economics What is meant by GDP and how is it measured GDP is an acronym for Gross Domestic Product. It was designed to measure the valueof the goods and the services produced during a time period. In spite of its limitations, realGDP is a reasonably precise measure the rate of output and the year-to-year changes in that output. In short, GDP is the measure of economic performance. It is measured in the country's currency both in current and constant prices. There are two basic ways to measure GDP. The first is to measure total spending on goods and services. This is the...
8 Pages(2000 words)Essay

Natural Gas: Nominal GDP vs. Real GDP

...Discussion why natural gas is valued in real GDP Following the definition of Nominal GDP and Real GDP by Frank and Bernanke , nominal GDP refers to the market value of all final products and services within a specified geographical region in most cases a country, while the Real GDP is used as a macroeconomic measure of a country’s output in reference to price changes. From this explanation, we can conclude that products in the international market must be valued in reference with international currencies. In relation with the discussion by Zhou in 2011 concerning the drop in natural gas futures, where it...
1 Pages(250 words)Essay


... GDP a. Interest on AT &T bond would be included in the calculation of GDP when calculating GDP using income approach. Interest earned by an individual income is included in the GDP in the year the interest was earned by an individual. b. Social security payments received by a retired worker is not accounted for in the calculation of GDP since it is just a transfer payment. c. The service of a painter in painting the family home is included in the calculation of GDP if the painter was an outside contractor and pays tax. However, if the painter is a family member, his work, or benefit will not be included in the calculation of GDP (Mankiw 506). d. The income of a dentist is included in the calculation of GDP on the year the income... was...
1 Pages(250 words)Assignment


...a better picture about the output and consumption of goods and services in the country. For example, the difference in money paid to buy any specific good or service in two different countries can indicate the real foreign exchange rate. Based on this theory, the estimate conducted by IMF for China’s GDP is 11.3 trillion Dollars for the year 2011. China needs to devaluate its currency exchange rate to reflect the real relation of Chinese Yuan with other major currencies of the world, like US Dollar. As per the comparisons drawn by “The Economist”, Chinese GDP has shown steady growth pattern. However, its real GDP growth rate has been...
5 Pages(1250 words)Essay

Conduct research on the economic performance of ONE (1) country over the last ten years, from 2004 to 2013, applying the macroeconomic indicators of real GDP, real GDP growth rate, real GDP per capita , unemployment rate and inflation rate to argue whe

...Economic development Economic development For a country to become rich a number of factors must be considered. Natural resources, human, capital and technology and appropriate institution are the fundamental essentials for economic development in any economy. Economic growth presides economic development; economic growth is the increase in GDP of the economy that is calculated over a period. For economic development to occur the individual economy must be able to have institutions that that promote and sustain modern economic growth through economic development is defined as the sustained, concerted actions of policy makers and communities that promote the living standard and economic health. The qualitative and...
4 Pages(1000 words)Assignment

The Circular Flow of Income and Expenditure + Measuring Economic Activity: Prices and Unemployment + Measuring Economic Activity: GDP and Real GDP summary

...product or service. Future speculation of a product may also trigger inflation. Speculation of future shortages may trigger a market scrabble for products in a bid to stock for the anticipated increase in price. Measuring Economic Activity: GDP and Real GDP Gross Domestic Product (GDP) is the sum of all value in monetary terms of all the finished products manufactured within a country in a period of one year. Real GDP is the sum of all the value in monetary terms of all manufactured products within a country for a specified period of one year adjusted for changes in price or inflation (Natoli and Zuhair 41). GDP is...
3 Pages(750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Coursework on topic Real GDP for FREE!

Contact Us