Analysis of GDP, Consumption, and Economic Growth: A Case Study

This economics assignment delves into the core concepts of Gross Domestic Product (GDP), consumption, and economic growth. It provides an analysis of GDP, its components (consumption, government expenditure, exports, and imports), and the calculation of economic growth rates. The assignment distinguishes between nominal and real GDP, providing formulas and explanations for each. It includes a review of the value of consumption, government expenditure, and the current value of exports. The document includes calculations and formulas for GDP and the difference between nominal and real GDP. Finally, references are provided to support the analysis. This assignment is designed to help students understand key economic indicators and their interrelationships.

Economic Question

Table of Contents
QUESTION 1...................................................................................................................................3
What are the value of C, lg, Xn, and GDP and growth rate of GDP.........................................3
QUESTION 2...................................................................................................................................3
Definition of GDP.......................................................................................................................3
QUESTION 3...................................................................................................................................3
Difference between nominal and real GDP................................................................................3
QUESTION 4...................................................................................................................................4
Formula of Real and nominal GDP.............................................................................................4

QUESTION 1
What are the value of C, lg, Xn, and GDP and growth rate of GDP.
Value of Consumption = -0.2 % of GDP
Value of government expenditure: $8,276.9Bn
Current6 amount of export: 1,665,303 million
Current value of GDP:$65,298
Growth rate of GDP : 4 % (Mahalingam, and Orman. 2018. GDP).
QUESTION 2
Definition of GDP
(GDP) is the financial market or consumer quantity of money and products
produced in a particular time frame inside the boundaries of nation. It acts as a
detailed scorecard of the economic performance of a particular country as a wide
measure of the overall national product. Throughout U.S., for example, the
control issues an annualized GDP approximation for respectively economic sector
and similarly for the accounting year.
QUESTION 3
Difference between nominal and real GDP.
Thedistinction between nominal GDP and actual GDP would be that of
nominal GDP: it estimates the output of the nation's finished goods and services at
present prices of sector, while real GDP calculates the output of the nation's
finished goods and services during similar prices over the years. So this is the main
difference between both kinds of GDP (Kompas, Pham, and Che 2018).

QUESTION 4
Formula of Real and nominal GDP
Real and nominal GDP is consider as different terms. While calculating real
GDP, personas need to evaluate value of all the goods.
GDP=C+I+G+(X−M)
C = Consumption
I = investment
G = Government investment
(X_M) = Valuer of exports - imports
Value of nominal GDP = r = n /d
here value of r = real GDP
n = nominal GDP
D = GDP deflater.

REFERENCES
Books and journals
Mahalingam, B. and Orman, W.H., 2018. GDP and energy consumption: A panel analysis of the
US. Applied Energy, 213, pp.208-218.
Kompas, T., Pham, V.H. and Che, T.N., 2018. The effects of climate change on GDP by country
and the global economic gains from complying with the Paris climate accord. Earth's
Future, 6(8), pp.1153-1173.