Let's say this is U.S. GDP, right? GDP is just output.

Our real GDP is equal to our current dollar GDP.

This is our real GDP, our real GDP is equal to 14 921.3 billion dollars.

Now that is the way that we know the nominal GDP is, the GDP measured in 2011 dollars,ofen called the current dollar GDP.

And this is GDP per capita on this axis.

Here is GDP per capita from 1900 to 1929.

So this is the more formal definition of GDP

And on this axis, GDP.

Let's say the 2011 nominal GDP is 15,294.3 billion dollars.

Our real GDP is what we want to figure out.

So if you look at U.S. output This is GDP.

And the GDP in Africa is not making much progress.

Last in Europe GDP per capita.

Just to show you what we plotted, here is income, GDP

The GDP is then divided into the private and public sector.

Ghana and Singapore had the same GDP.

Cheap meaning a few percent of GDP.

15 ! 15 lift to Japanese GDP level.

So here's GDP per person in America.

But that's not how economists measure GDP.

Country A has surpassed Country B with 700 per capita GDP as compared with 650 per capita GDP.

That's not U.S. GDP per capita, which will be over a million, but world GDP per capita 200,000.

So we're thinking about GDP in a year but we could think about GDP in a quarter, whatever.

One sixth of the GDP in India is coming out of Mumbai.

That's just under the GDP of Great Britain.

So what would be the contribution to GDP?

GDP fell two percent this year. Good news!

But it tends to be..we always think of GDP in terms of annual or quarterly GDP or sometimes even some estimates of a monthly GDP but it tends to be annually or quarterly.

I said that charitable giving is two percent of GDP in the United States.

Let's say the GDP deflator, relative to 2010, you always have to know what you're taking your deflator relative to, is a 102.5 and this is, once again, the 2011 GDP deflator.

Five percentage points of your GDP saved per year.

Zero price means zero weight in the GDP statistics.

Country A, in 1990, had about 300 per capita GDP as compared with Country B, which had 460 in per capita GDP.

So, you could have a GDP for a month you could have a GDP for a quarter of a year or you can be three months or you could have the GDP in a given year.

This is actually the advanced estimate of what 2011 GDP was in the fourth quarter.

And then we can just solve for the real GDP.

Let's say I don't know what's the GDP of Spain?

Gross National Product, and that's the main difference. GDP says

Who has the biggest budget as a proportion of GDP?

In 2005, the Swiss government took 36 of the GDP.

You know, it looks at economic power measured by GDP.

China out perfomed India in terms of GDP growth by an average of about 2.2 percent every year in terms of per capita GDP.

But either way, that's essencially what simplify too, this is our current dollar GDP, our nominal GDP dividing it by, what I would prefer to call the deflator, but you could use it as the deflator divided by 100 and that gave us a real GDP.

So maybe it's happening.. We're talking about GDP in 2012, this is all happening in 2012,

R amp D in total in the economy, publicly funded, is about 0.6 percent of GDP.