Discuss the Gross Domestic Product (GDP), highlighting the components and methods of calculating GDP. GDP PPPExportsImportsmillions of millions ofGDPGDPGDP PPPperTradeCountry orterritorynominalnominalmillions ofcapita millions ofper capitaUSD (2011)millions ofUSDUSDUSD (2011)USDUSD (2011)USD (2011)(2011)(2011)(2011)Hong246,941354,27234,04949,342944,800451,600493,200KongSingapore 266,498314,96349,27059,936818,800432,100 386,700South1,163,8471,556,10223,74931,753 1,084,000558,800525,200KoreaTaiwan504,612886,48921,59137,931623,700325,100298,600

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Discuss the Gross Domestic Product (GDP), highlighting the components and methods of calculating GDP.

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

Discuss the Gross Domestic Product (GDP), highlighting the components and methods of calculating GDP.

GDP PPP
Exports
Imports
millions of millions of
GDP
GDP
GDP PPP
per
Trade
Country or
territory
nominal
nominal
millions of
capita millions of
per capita
USD (2011)
millions of
USD
USD
USD (2011)
USD
USD (2011)
USD (2011)
(2011)
(2011)
(2011)
Hong
246,941
354,272
34,049
49,342
944,800
451,600
493,200
Kong
Singapore 266,498
314,963
49,270
59,936
818,800
432,100 386,700
South
1,163,847
1,556,102
23,749
31,753 1,084,000
558,800
525,200
Korea
Taiwan
504,612
886,489
21,591
37,931
623,700
325,100
298,600

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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