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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: jttmab who wrote (51235)6/29/2005 8:32:35 AM
From: bearshark  Read Replies (1) of 173976
 
>>>I'd like your opinion on GDP as an economic indicator. I'm beginning to think that is a good indicator when you're talking about a country with an industrial base that's growing with the GDP.<<<

I looked at the GDP and its components for a bit last night at the Bureau of Economic Analysis (BEA) site. I tried to add a link here to the specific file but I could not get it to work.

Anyway, GDP is basically (personal consumption of goods and services) + (domestic investment) + (government spending) + (exports-imports). I've never played with this before but I thought it was interesting how we get to GDP.

The BEA site mentions the estimates for exports and imports are a little shaky.

Services are included in at least 2 of the major components I mentioned above. However, most is in personal consumption. I was trying to determine what items BEA includes under services. The BEA site was confusing and I did not find it.

How would you classify commercial software purchased in a box at a retailer--good or service? I would add it under service without knowing what BEA does.

How would you classify software developed specifically for an end user under a service agreement--good or service? I would add it under service without knowing what BEA does.

How would you classify a settlement attorney's effort on a home sale--good or service? I would add it under service without knowing what BEA does. (Will you take the bait?)

I think to move towards answering your question we would have (1) to determine if BEA includes these as services or not and (2) to determine if we agree with BEA. What do you think?
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