Gross Domestic Product, or GDP, is a measurement of economic ... Scott Baier, PhD: “Real GDP is an attempt to net out price changes, so real GDP measures an increase in the quantity of goods ...

If this depletion of the capital stock, called depreciation, is subtracted from GDP, we get net domestic product. Theoretically, GDP can be viewed in three different ways. • The production approach ...

Net exports represent the difference between what a country exports minus any imports of goods and services. GNP is related to another important economic measure called gross domestic product (GDP ...

Gross domestic product, or GDP, is a measure of a ... capacity and often improves employment levels. To arrive at net exports, subtract total imports from total exports (NX = exports − imports).