Discussion Board 1 Econ 214

In: Business and Management

Submitted By Tiff2010
Words 559
Pages 3
How Exports impact GDP
Tiffany Cook
March 19, 2015
Econ 214

(gwartney, 2015) “Gross domestic import is the market values of all final goods and sales” There are various factors that make up the subcategories of the United States, Gross domestic product. This definition tells us how we ultimately arrive at a calculations of the gross domestic products, but it does not shed light on the economies output and input and the benefits or setbacks each service may have. Some ways that we can look at expenditure approach is to know the wealth of what our goods and services can provide, also how these goods and services can be a come up or a setback dependent upon what we do more of. The expenditure approach allows us to see what our consumers have been benefiting from with the goods and services that have been provided to them by the US.
Foreigners make up a portion of the GDP with imports, but in order for us to be on the winning side we would have to provide other countries with more of our products for them to buy or consume. Therefore the greatest impact on GDP is what we export in order to gain a profit from the consumer. If we were the consumer we would be looking to do the same. The economies main goal is to make the money and keep more of it. Exports allow us to do more of that, imports gives us resources to supply the source products for us to export.
(Deekay, 2009)States that “export instability stimulates inflation. When inflation rises in a country the products tend to be costlier” this implies that we end up producing more than we are selling, therefore this causes us to adjust for substitutions when our products prices stay the same after the demand for the product has gone down. We use the chained consumer price index and allow for our products to change pushes for production, decreasing the percentage for inflation. This in turn prevents the country…...

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