GDP deflator (implicit price deflator for GDP) is a measure of the level of prices of all new, domestic goods and services in an economy. The GDP deflator regularly updates the type of goods and services used to measure the implicit price deflator – depending on which goods are being bought. e.g.If the price of …
Firstly, I thought it might be helpful to talk about the different types of spending cuts that people refer to. An actual cut in government spending. e.g. one year we spend £39bn on defence, the next year that is cut to £38 bn. This is a nominal cut of £1bn. The real cut will be …
When measuring the largest / best economies, there are different ways of ranking countries. Nominal GDP in $US. This is the simplest measure and shows the actual final market value of GDP produced in the economy. It is useful for comparing levels of international trade. It uses the official exchange rate. GDP in Purchasing Power …
GDP per capita measures the average GDP per person in the economy. GDP or Gross Domestic Product measures the total output / income and expenditure of an economy. 1. Liechtenstein $118,000 2. Qatar $111,000 3. Luxemburg $83,000 4. Bermuda $69,000 5. Norway $59,000 6. Kuwait $57,000 7. Jersey $57,000 8. Singapore $51,000 9. Brunei $51,000 …
A look at how GDP per capita in $US gives different values when measured at purchasing power parity. GDP at Purchasing Power parity (PPP) takes into account variations in living costs. PPP is an attempt to work out how much currency will be needed to buy the same quantity of goods and services in different …
The amount of debt interest a government needs to pay depends on two factors: The amount of outstanding debt. The interest rate on government bonds. Higher bond yields will increase the cost of future borrowing. Note: There are quite a few different ways of measuring government debt / financial liabilities, therefore you may come across …
Readers Question: when I read the EU spends 50% of their GDP, what does that actually mean? That half of Europe’s taxes are spent on government projects like welfare and entitlements, like taking money from the left hand pocket and putting money in the right hand pocket? I’m lost. Could you please use credit cards …
This is a list of government spending as a % of GDP. The highest on this list is Zimbabwe with 97.8% of GDP. Amongst developed countries, the highest levels of government spending include Iceland (57%), Sweden (52%) and France (52.8%) China’s government spending accounts for only 20% of GDP