Calculating Gross Domestic Product Using Value Added: The Value-Added Approach to Calculating Gross Domestic Product

Calculating Gross Domestic Product Using Value Added: The Value-Added Approach to Calculating Gross Domestic Product

2010 GDP in US Dollars.  Notes  GDP at current exchange rate for 2010. Colors correspond to continents/regions.    Source: World Bank    Credit: Lam Thuy Vo / NPR

2010 GDP in US Dollars. Notes GDP at current exchange rate for 2010. Colors correspond to continents/regions. Source: World Bank Credit: Lam Thuy Vo / NPR

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Bureau of Economic Analysis (BEA) Statistics on national and international trade, accounts, industry, and economic indicators.

Bureau of Economic Analysis (BEA) Statistics on national and international trade, accounts, industry, and economic indicators.

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Did you know that intellectual property (IP) accounts for 20% of the US gross domestic product (GDP) and for 40% of the country’s economic gains? Or that IP-intensive industries employ close to 55 million workers?

Did you know that intellectual property (IP) accounts for 20% of the US gross domestic product (GDP) and for 40% of the country’s economic gains? Or that IP-intensive industries employ close to 55 million workers?

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Gross Domestic Product - GDP

Gross Domestic Product - GDP

"The government shutdown has taken at least $24 billion out of the United States economy, the financial ratings agency Standard & Poor's said Wednesday. The firm said the shutdown caused it to cut its forecast of gross domestic product growth in the fourth quarter by at least 0.6 percentage point. The agency lowered its estimate for GDP growth to close to 2 percent from 3 percent." [HuffPost]

"The government shutdown has taken at least $24 billion out of the United States economy, the financial ratings agency Standard & Poor's said Wednesday. The firm said the shutdown caused it to cut its forecast of gross domestic product growth in the fourth quarter by at least 0.6 percentage point. The agency lowered its estimate for GDP growth to close to 2 percent from 3 percent." [HuffPost]

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