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.
Nobody downloaded yet

Economic measurements - Essay Example

Comments (0)
Gross domestic product helps measure the economic activity of a country in terms of the value of the goods and services it produces in a certain period. It can be expressed as nominal gross domestic product or real gross domestic product. Nominal gross domestic product uses…
Download full paper
Economic measurements
Read TextPreview

Extract of sample
Economic measurements

Download file to see previous pages... Negative real gross domestic product indicates lower incomes, lower consumption and poor standard of living (Brezina 24). Largely, gross domestic product is a better economic indicator than its alternatives despite its shortcomings.
Production is one of the ways of estimating a country’s gross domestic product. Using production in estimating the gross domestic product requires the subtraction of inputs used in the production process from the value of the final output. The value of the final good incorporates the value of inputs and the expertise used in manufacturing and caution is needed not to overestimate the gross domestic product. Overestimation of the gross domestic product happens when outputs are double-counted. Double counting is avoided by calculating and aggregating the value-added at different stages of production. The aggregate is called gross value added, it needs adjustment for taxes, and subsidies in order to derive a gross domestic product estimate (Stiglitz et al 112).
Gross domestic product is an applauded economic indicator because it factors in inflation. This allows investors and firms to compare incumbent trends with previous periods. It does well in capturing the heath of an economy and it has a significant influence on markets (NAS 25). Gross domestic product is able to mark the beginning and the end of an economic recession. Gross domestic product is limited by its periodical release because its data may not be timely in capturing some changes in the economy. Its sensitivity to revision is a limitation as it can have significant changes in historical figures (Fioramonti 85).
Alternatives to gross domestic product in measuring the economic growth and health of a country include green accounting that factor in the environmental impacts of production. There are alternatives that take into account leisure. Index of sustainable ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
History of Tests & Measurements
In order to attain the best tests, the most important thing to do, according to Shepard (2000) is to administer various tests on individual in order to determine their validity and reliability. If the processes under study provide various responses after analysis, the tests may be considered reliable in this context.
5 Pages(1250 words)Essay
Psychology Tests and Measurements
Items showing the behavioral aspect are issue to do with duration of working hours and the pace of work. The cognitive questions include sense of self worth and making excuses or complaining about hard work. In HWI the first few items of the test of assessment pass the mark of face validity.
5 Pages(1250 words)Essay
Mechanical Measurements
This technique provides global surface pressure maps with great resolutions for both complex and simple surfaces. However, there are various challenges that hinder the accuracy of the results obtained from the pressure surface paint technique. One of the challenges of this technique is that the preparation of and painting consumes a lot of time, its tedious and expensive as well (Otto and Ramaier 2001).
4 Pages(1000 words)Essay
Metrics and measurements
Also, periodic human resource assessment using metrics and measurements can identify the key aspects of human resource management that require improvement (Strategy2Act). Besides, metrics and measurements can help in the calculation of investment return of human resource (Strategy2Act).
3 Pages(750 words)Essay
Measurements And Methods
Research involves the collection and analysis of data to come up with conclusions regarding particular subject matters. Various methods are utilized both in the collection as well as in the analysis of data. However, often times, the choice of collection and analysis method comes down to a choice between qualitative or quantitative research methods.
3 Pages(750 words)Essay
Measurements Paper
Some instances of those variables which have been identified as moderating, confounding, or extraneous, are enumerated and it is explained and how these are related to the primary independent and dependent variables. This paper also summarizes through examples the manner in which other researchers have established the quality of their measures, including the types of reliability and validity assessments used and reported.
6 Pages(1500 words)Essay
Measurements/Assessments Paper
Basically, research project focuses on a “felt difficulty “ or a “question” that researcher/s intentionally draw out in order to improve existing understanding of situations, conditions or
3 Pages(750 words)Essay
Economics suffers from a form of the Heisenberg Uncertainty Principle Explain with reference to modelling , theoretical paradigms and empirical testing
The uncertainty principle has it that the velocity/momentum and position cannot be measured both, exactly, simultaneous (actually pairs of energy, position and time). This principle emanates from
6 Pages(1500 words)Essay
Communication in Economics
The year 2013 showed remarkable economic recovery in terms of the GDP growth rate barring the last quarter when the US GDP rate slightly declined. Overall, on year to year basis, the US economy registered
2 Pages(500 words)Essay
Journaling Exercise
The results of this have been an increase in poverty levels across the globe, leading to suffering among the poor. Secondly, I also view the article pointing towards the lack of success of the Americas
3 Pages(750 words)Essay
Let us find you another Essay on topic Economic measurements for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us