# GDP

Stands for: Definition: Gross Domestic Product >An estimated value of the total worth

GNP
Gross National Product >An estimated value of the total worth

of a country’s production andservices, on its land, by its nationals and foreigners, calculated over the course on one year. >means the total of all business production and service sector industry in a country plus its gain on overseas investment. In some cases GNP will also be calculated by subtracting the capital gains of foreign nationals or companies earned domestically.

of production and services, by citizens of a country, on its land or on foreign land, calculated over the course on one year. >the total worth estimated in currency values of a nation’s production in a given year, including service sector, research, and development. That translates to a sum of all industrial production, work, sales, business and service sector activity in the country. >is also a calculator of economic
activity. However, GNP also encompasses the value of net income made abroad. Moreover, when calculating GNP, the value of what foreign countries earn in the given country is subtracted from the value.

Difference

>is a commonly used calculator of
national income and measures the economic activity in a country. Essentially, the GDP is a figure which measures the value of the goods and services produced in a country in a given time period (usually one year).

GDP = consumption + investment +

GNP = GDP + NR (Net income inflow from assets abroad or Net Income Receipts) - NP (Net payment outflow to foreign assets)

Formula forCalculation:

(government spending) + (exports − imports)

where:
"C" is equal to all private consumption, or consumer spending, in a nation's economy "G" is the sum of government spending "I" is the sum of all the country's businesses spending on capital "NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)

LYNDRE LYN BAJON

BSACT 3-1

e. calculated over the course on one year.GDP Stands for: Definition: Gross Domestic Product >An estimated value of the total GNP Gross National Product >An estimated value of the total worth of a country’s production andservices. in a nation's economy "G" is the sum of government spending "I" is the sum of all the country's businesses spending on capital "NX" is the nation's total net exports. > is a measure of a country's economic performance. calculated over the course on one year. goods and services) and whether they produced these items within its borders. calculated as total exports minus total imports. worth of production and services. (NX = Exports . on its land or on foreign land. by its nationals and foreigners. Difference >are both measures of economic development. or what its citizens produced (i. Formula forCalculation: GDP = consumption + investment + (government spending) + (exports − imports) where: "C" is equal to all private consumption. > The monetary value of all the finished goods and services produced within a country's borders in a specific time period. or consumer spending.NP (Net payment outflow to foreign assets) SALVIE MARIE DRILON BSACT 3-1 . on its land. though GDP is usually calculated on an annual basis.Imports) GNP = GDP + NR (Net income inflow from assets abroad or Net Income Receipts) . >refers to the GDP added to the total amount of capital gain from all investments made abroad with the amount of income that has been earned by foreign nationals in that country subtracted from the total. When you calculate the estimated value that defines the worth of any country’s services provided and production carried out over a whole year. by citizens of a country. then you refer to it as that country’s GDP.

especially indicated. .The Rule of St. that the nuns might guard against or repent any infringement of it. it too gives more general principles. St. Before making their profession the nuns divest themselves of all their goods. obedience. for the purpose of restoring harmony in their community. the inferiors. Prayer. Pachomius or the anonymous document known as theRule of the Master. is by no means onerous and the Bishop of Hippo tempers it most discreetly. but attaches no less importance to fraternal charity. Nevertheless. Augustine enters into no minute details. Mercederians. detachment from the world. Augustine Letter 211 The letter written by St. the apportionment of labour. which consists in living in peace and concord. The superior. and whatever they may earn or receive is turned over to a common fund. the sick and infirm are objects of the most tender care and solicitude." St. leaves her free to determine the nature and duration of the punishment imposed. apart from the issue of obedience and behavior at the Divine Office. another of the cellar. Although the Rule of St. and when the saint speaks of obligatory fasting he specifies that such as are unable to wait for the evening or ninth hour meal may eat at noon. in some cases it being her privilege even to expel nuns that have become incorrigible. and another Rule called: "De vitâ eremiticâ ad sororem liber. this being characteristic of all primitive Rules. Augustine. Overview employed by a large number of orders. their monasteries being responsible for supplying their wants. During meals some instructive matter is to be read aloud to the nuns. occupies an important place in their life. including The Rule governs charity. poverty. Those sisters desiring to lead a more contemplative life are allowed to follow special devotions in private. Sermons 355 and 356 entitled * a Rule known as Regula secunda. The nuns make their habits which consist of a dress. the monasteries having right of possession. the Bishop of Hippo was a law-giver and his letter was to be read weekly. such as that of St. Later. in particular. being said in the chapel at stated hours and according to the prescribed forms. to the extreme of omitting to chastise the guilty. before entering religion. the Benedictine Rule was to be specific in certain elements of monastic life. to be sure. The section of the rule that applies to eating. psalms and readings. The nuns partook of very frugal fare and. of course. in common. fraternal charity. Certain prayers are simply recited while others. The superior shares the duties of her office with certain members of her community. it dwells at great length upon religious virtues and the ascetic life. but as St. Fasting and abstinence are recommended only in proportion to the physical strength of the individual. one of whom has charge of the sick. abstained from meat. and Augustinians. in all probability. although severe in some respects. but. and certain concessions are made in favor of those who. another of the wardrobe. Servites. it is to be supposed that each monastery conformed to the liturgy of the diocese in which it is situated. However. led a life of luxury. while still another is the guardian of the books which she is authorized to distribute among the sisters. De vitâ et moribus clericorum suorum In his sermons 355 and 356 the saint discourses on the monastic observance of the vow of poverty. however. Augustine is a religious rule the Dominicans. fasting and abstinence proportionate to the strength of the individual. This document. Augustine contains but a few precepts. He considers poverty the foundation of the monastic life. care of the sick. minute prescriptions as are found in later monastic Rules. are chanted. silence and reading during meals. a cincture and a veil. and comprising hymns. prayer in common. contains no such clear. History Letter 211 addressed to a community of women. deals with the reform of certain phases of monasticism as it is understood by him. is recommended to practice this virtue although not. Augustine to the nuns at Hippo (423).