GDP
Henry Kissenger
26-06-2004, 00:45
What does GDP mean? Everyone I ask tells me that it is very important to the nation's economy. thats it. i knoe it stands for gross domestic product but does it benefit a economy or hrm it and how?
I'm not sure the official meaning. But I think It means something like your nation's money compared to the population. I'm not sure though. Just something to tie you over until someone who really knows answers. And by the way, it's definately not the most important thing. Only in RP.
Fluffywuffy
26-06-2004, 00:47
Gross Domestic Product, the measurement of the entire worth of your nation's economy, so I take it. GDP per capita = the wealth per person.
Zyzyx Road
26-06-2004, 00:48
It's the value of all goods and services provided within the borders of a nation.
The Black Forrest
26-06-2004, 00:49
Gross Domestic Product - the total value of goods and services produced during a period of time.
It's part of measuring how good/bad an economy is.
People argue over the numbers all the time.
Henry Kissenger
26-06-2004, 00:50
bump
bump
What's the point in bumping this? Your question was answered. Plus it's still on the first page.
Silly newbie. :D
Hawaiian Islands
26-06-2004, 00:53
didnt that GDP thingy on pimpian, stop working and asks you to make the link your self? it's kinda confusing...
Henry Kissenger
26-06-2004, 00:57
India has a GDP rate of 10.3. Is that good or bad?
Fluffywuffy
26-06-2004, 01:01
I think you must mean GDP growth rate of 10.3 percent, and I'd have to say that is great. If you are interested in a GDP calculator, try this one:
http://www.thirdgeek.com/nseconomy.php?nation=Henry_Kissenger
http://www.pipian.com/stuffforchat/gdpcalc.php?nation=Henry%20Kissenger
I prefer the first link
The Unreal Soldiers
26-06-2004, 03:17
Those offer quite different numbers, though I don't know how they come up with them.
Fluffywuffy
26-06-2004, 03:23
The first link (thirdgeek) factors in tax, etc. etc. fairly strongly. A nation with 100% tax is poorer than a nation with 0% tax. A nation with high (but not too high) freedoms is richer than one with lower freedoms. The actual economic ratings play in too.
A nation with a poor economic rating, yet has high freedoms and low tax is probably going to be as rich as a high economic rated nation with low freedoms and a high tax. Look at the forums on there, I helped come up with one of the formulas.
As for the other (pipian), it is just simply taking the ratings here on the forums and multiplying them by population to get GDP, with some slight modifiers if I recall. Freedoms don't factor in as much, as I recall. The first one makes more sense to me, plus it gets a trade surplus/deficet and such.