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Gross Domestic Product
Essay # 13858
Gross Domestic Product
Examines concept of GNP, including its major components, effects of personal income tax policy on GDP, tax cuts and govt. spending. Includes a table.
1,575 words (approx. 6.3 pages) |
8 sources |
1999
From the Paper:
"GROSS DOMESTIC PRODUCT, ITS COMPONENTS, AND THE EFFECTS OF PERSONAL INCOME TAX POLICY IN THE UNITED STATESThis research examines the concept of gross domestic product (GDP), the components of GDP, and the effects of personal income tax policy on GDP in the United States. GDP is a measure of the total flow of goods and services produced by an economy over a specified time period, excluding intermediate products and depreciation (Byrns & Stone, 1995). The value of intermediate products is included in the prices of the final consumption goods. The omission of an adjustment for depreciation differentiates GDP from net domestic product (NDP). Lastly, GDP measures include no adjustment for indirect taxes or government subsidies. The absence of these adjustments means that the GDP is valued at market prices, as opposed to factor.."
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APA Citation:
Gross Domestic Product (2012, January 15). Retrieved February 12, 2012, from http://www.academon.com/Essay-Gross-Domestic-Product/13858
MLA Citation:
"Gross Domestic Product" 15 January 2012. Web. 12 Feb. 2012. <http://www.academon.com/Essay-Gross-Domestic-Product/13858>
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