In five pages GDP figures dating back to 1995 in the U.S. are considered in terms of formulation, tax change effects on the future, and other influential factors. Three sources are listed in the bibliography.
Name of Research Paper File: TS14_TEGDPUSA.doc
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Gross Domestic Product; GDP, as a measure of their economic position, others such as Singapore have opted to use Gross National Product; GNP, although this is a relatively recent change
from the GDP. In order to understand what this means and how it should effect the interpretation of the economy it is necessary to understand how these two different measures
are calculated and in what ways they differ. When we look at the United States we can see that they use the GDP
to measure the size as well as the growth in their economy. In recent years the figures are shown in table one. Table 1; GDP in the USA 1995 -
2000 (Extrapolated from Economagic, 2001) Year 1995 1996 1997 1998 1999 2000 Amount in $billions 7,529.3 7,981.4 8,478.6 8974.9 9,559.7 10,112.8 In graphic terms this looks like
this (Economagic, 2001) When we look at this we must remember that this is also increase as a result of
inflation, and to make a true examination of the increase we need to adjust the value of the dollar to eliminate the effect of inflation, in figure 2 this has
been adjusted to dollars at the 1996 level. Figure 3 If we are using this to measure
growth the we need to know what it is. Most countries use their Gross Domestic Product; GDP, as a measure of their economic position, others such as Singapore have opted
to use Gross National Product; GNP, although this is a relatively recent change from the GDP. In order to understand what this means and how it should effect the interpretation