PO232 Lecture Notes - Lecture 2: Big Mac Index, Gross National Income, Development Aid
Document Summary
Ways of measuring the size of a country"s economy. Monetary value of final goods and services produced in a country in a given period if time (usually a year) Measure of final value of fall the sales for money. Gdp plus net flows of income from abroad. Combination of the money from canada minus the net income from another country. It is when one country has a factory in another country that would include in the gni. If one country owns a factory within canada the money is subtracted from the canadian income. Gdp and gni are not the same as wealth. They are not the same as amount and value as assets and wealth controlled within a country. Anything produced within that country that have been there for previous years, it will not be counted. Per capita gdp and per capita gni: Nominal vs. real growth ( current vs constant dollars)
