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Essay / Research Paper Abstract
This 3 page paper looks at the present economy and discusses the relevance of GDP. GDP is discussed in depth. How GDP affects the accounting industry in particular is touched on. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA336GDP.rtf
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Unformatted sample text from the term paper:
are affected more than others. For example, everyone has to eat, and people need medical attention, or they must replace large appliances whether or not the economy is good. They
will either borrow or use savings to accomplish goals that are related to health or to things that they feel cannot wait. Yet, people do curtail consumption during the negative
periods and so one is left with many markets that do poorly. For instance, people tend to travel less or spend on extra clothing or furnishings. They put large purchases
off for awhile until the economy recovers and they are more secure with their jobs. Many businesses look to economic indicators in order to make business decisions. It is
one thing to suggest that the economy is in recovery, or that things are rather optimistic, and another to see in black and white just what the situation is. Of
course, there are numerous indicators, one of which is the Gross Domestic Product or GDP. Cobb, Halstead & Rowe (1995) explain it this way: "The GDP is simply a gross
measure of market activity, of money changing hands." An analysis of the GDP can be utilized in order to help make business decisions and prepare for future
trends. In looking at the GDP it is important to realize that a true historical trend cannot be accomplished for this indicator. That is because the way in which
it is measured has changed. The old technique to measure GDP is called the fixed-weight system where statisticians would collect numbers regarding output of goods and services (Meyers, 1996).
It was soon realized that the figures would vary too much throughout the years and months and so they realized that they would need to weight changes to some extent
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