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  • Anforme How is GDP calculated and why is there debate about what it really measures?

Anforme How is GDP calculated and why is there debate about what it really measures?

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Allan Hodge, teacher at Cheltenham Ladies’ College, reviews the meaning of national income statistics and the problem of how to interpret them

Summary of Key Points:

  • How do we measure national output?

 

  •  Why GDP?

 

  • Nominal or Real?

 

  • Calculating and comparing GDP figures internationally

 

  • What counts as ‘output’ in our GDP calculations?

 

  • Are there alternatives to GDP?

 

  • Remember This, Try This and Taking it Further

This article appeared in Volume 22 issue 3

Download: D148

Allan Hodge, teacher at Cheltenham Ladies’ College, reviews the meaning of national income statistics and the problem of how to interpret them

Summary of Key Points:

  • How do we measure national output?

 

  •  Why GDP?

 

  • Nominal or Real?

 

  • Calculating and comparing GDP figures internationally

 

  • What counts as ‘output’ in our GDP calculations?

 

  • Are there alternatives to GDP?

 

  • Remember This, Try This and Taking it Further

This article appeared in Volume 22 issue 3

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