• Research Paper on:
    Economic Concepts and Examples

    Number of Pages: 5

     

    Summary of the research paper:

    This 5 page paper examines various economic concepts such as the Consumer Price Index, GNP and GDP. The difference between GNP and GDP is discussed in depth and examples are given. An example provided by a student is analyzed to discuss the difference in purchasing power between Tokyo and New York. The Big Mac Index is discussed as well. Bibliography lists 6 sources.

    Name of Research Paper File: RT13_SA441eco.rtf

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    Unformatted Sample Text from the Research Paper:
    tools are also helpful when comparing world economies. One of the most important points of reference is the Gross Domestic Product or GDP. Another method of deriving an important statistic  is to calculate the Gross National Product or GNP. The difference between the GNP and GDP in some countries such as the United States, is trivial, but in others, the  difference is quite large. When examining the statistics, it becomes clear that while certain countries show a significant difference, others show none at all or a small difference as evidenced  by the following chart, created with information from the World Bank Group: 2003 GDP and GNP USA Brazil Rwanda  France GDP 10.9 trillion 492.3 billion 1.6 billion 1.7 trillion GNI/GNP (Atlas Method) 10.9 trillion 478.9 billion 1.8 billion  1.5 trillion difference $0 13.4 billion .2billion .2 billion For the four countries selected, it seems that the GDP  and GNP for the United States shows no difference and for France and Rwanda--two completely different types of nations--that difference is negligible at .2 billion ("World," 2004). However, for the  nation of Brazil the difference is equivalent to 13.4 billion (2004). Of course, when looking at the percentage differences, the amount is not as large as it seems. Rwandas entire  GDP is 1.6 billion as compared with Brazils 492.3 (2004). Why might the figures --GDP versus GNP-- differ at all? In order to truly understand, a student writing on this  subject must look at the definitions of GDP and GNP. GDP and GNP are important economic indicators. Gross Domestic Product or GDP reflects true economic activity that is 

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