International Journal of Tax Economics and Management

Measuring GDP and Economic Growth: An Economic Barometer

Author: Alpa Tarun Mohanty | Published on: 31 January, 2019   Page: 42-58

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Abstract
This essay based on Michaele Parkin, Macroeconomics, 8th edition. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

Keywords
GDP; Economic Growth; Economic Welfare Comparisons; NDP; Capital and Investment; Goods and Services.

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Mohanty, A., T (2019), Measuring GDP and Economic Growth: An Economic Barometer. International Journal of Tax Economics and Management, 2(3), 42-58.

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    Mohanty, A., T (2019) "Measuring GDP and Economic Growth: An Economic Barometer", International Journal of Tax Economics and Management, 2(3), pp.42-58.

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    Mohanty, A., T. Measuring GDP and Economic Growth: An Economic Barometer. International Journal of Tax Economics and Management. 2019; 2(3): 42-58.

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    Mohanty, A., T. Measuring GDP and Economic Growth: An Economic Barometer. International Journal of Tax Economics and Management. 2019; 2(3): 42-58.

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    Mohanty, A., T. Measuring GDP and Economic Growth: An Economic Barometer. International Journal of Tax Economics and Management. 2019; 2(3): 42-58.

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    [This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).]

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    Author Details


    Alpa Tarun Mohanty
    Department of Economics, School of Business Studies and Social Sciences
    Christ University
    alpamohanty@yahoo.com