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GDP• Gross Domestic Product• Value of total output of goods and
services within a country in a year- p.276
• PER CAPITA
• MDCs - $30,000• LDCs - $3,000
Y = C+I+E+GY = GDP
C = Consumer Spending
I = Investment made by industry
E = Excess of Exports over Imports
G = Government Spending
GNP• Gross National Product• Total value of officially recorded
goods and services produced by citizens and corporations.
• Broader than GDP (inside & outside territory)
GNP FormulaConsumption + Government
Expenditures + Investments + Exports + Foreign Production by US Companies – Domestic Production by Foreign Companies = Gross National Product
GNI• Gross National Income• Monetary worth of a country’s
production PLUS income received from investments.
• More accurate in terms of global economy.
• Japan - $31,410• USA - $41, 950• Luxembourg - $65,340• India - $3,460
HDI• Human Development Index• A country’s development is comprised
of economic, social, and demographic factors!
1. GDP2. Literacy Rate3. Amt. of Education4. Life Expectancy