| Science Forum Index » Economy Forum » Money Used Everyday |
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| Andy |
 Posted: Tue Jan 06, 2004 4:31 pm |
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Guest
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Hi everyone,
I was just wondering how much money in the US changes hands every
day? Would this be the same as the GDP?
Thanks |
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| Darren |
| Posted: Wed Jan 07, 2004 3:05 pm |
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Guest
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Andy wrote:
[quote:e680ebf73e]Hi everyone,
I was just wondering how much money in the US changes hands every
day? Would this be the same as the GDP?
[/quote:e680ebf73e]
No. GDP only measures the value of all "final goods and services"
produced in one year.
Example 1: Buying a used car does not count towards GDP, though money
changes hands.
Example 2: Company A makes tires. Company B makes cars. B buys tires
from A in order to make a car, but only the final price of the car is
included in GDP, not the price of the tires. (To avoid double counting
of the tires.)
Darren |
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| jrd100 |
| Posted: Sun Jan 18, 2004 8:56 pm |
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Guest
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Even though Gross Domestic Product is the total dollar amount of goods and
services produced within the borders of the United States, this figure is
not dependent solely on corporations owned by American Businesses.
Production figures from foreign owned companies are included as well.
James |
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