MGT411 GDB First 14.11.2011

[is3ail]

Discussion Question

Suppose there are only 100 goods being produced in a country during a particular year. In the next year the same numbers of goods are produced but the statistics show an increase in the GDP of the country in that year. Can GDP of a country increase without increasing the number of goods being produced in that country? If yes, then how? If, ‘No’ then why?

[Vuhelper]

Yes the GDP of a country increase without increasing the number of goods being produced in that country.

GDP stand for Gross Domestic Product. Its mean that the product that is produced in a country in a specific period of time. Mostly the time contain one year or more then one year. The GDP can be calculated in to the three ways

The product method

The expenditure Method

The Income Methed