GDP And GNP
GDP and GNP: What do they mean for Canada
My paper will look at GDP, Gross Domestic Product, and GNP, Gross National Product and how these two economic measurements can tell us a lot about the Canadian economy. I will begin with an introduction of both GDP and GNP, then I will discuss what these two tools mean for Canada. I will conclude with a brief look at current GDP/GNP levels and what they might hold for the future.
GDP
GDP. What is it Products, or productivity, are said to be the results of production. But what type of production are we dealing with here The making of cars The cutting of wheat fields How about the selling of something in the Halifax Shopping Center Actually, these are all the type of productivity we are looking at in this paper. GDP is the measurement of economic output. Labour productivity is the measurement of real GDP generated per hour of work. It is a useful reading of the strength of our work force. Strong labour productivity can mean higher paying jobs for our workers, meaning more money will be in the
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