GMS 724 Lecture Notes - Lecture 2: Gross Domestic Product, Purchasing Power Parity, Gini Coefficient

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 724
• Professor: Howard Lin

Document Summary

To identify the major dimensions of international economic analysis. To profile the characteristics of the types of economic systems. Gross national product (gnp): an estimated value of the total worth of production and services by its citizens of a country, on its land or foreign land, calculated over the course of one year o. Gross domestic product (gdp): an estimated value of the total worth of a country"s production and services, within its boundary, by its nationals and foreigners, calculated over the course on one year. Unemployment: numbers of workers who want to work who but do not have jobs. Problems in measuring: who are not working at all; are working without pay; voluntarily stopped for looking o o o. Internal debt: portion of the government debt that is denominated in the country"s own currency and held by domestic residents. External debt: debt owed to foreign creditors and denominated in foreign currency.