Income and fertility
Gross domestic product (GDP) is the total dollar value of all goods an economy produces over a given time, usually expressed as a comparison to the previous quarter or year. If the year to year GDP is up 5 percent, then the economy has grown 5 percent. There are two approaches - the income approach (adding up all earnings over a year) and the expenditures approach (adding up what everyone spent). The income approach is described as the total employee compensation, gross profit for corporations and non-incorporated firms, and taxes minus subsidies. The expenditures method is more common and it specifically combines total consumption within households, and the total investment within a business. It also reveals how much money the government is spending and the balance of trade. Another factor by which is not promptly supportive are the youngsters who play a role within GDP. They clearly do not add to it and do not help the stock and bond market returns. Youngsters are wellsprings of advancement, entrepreneurial souls and play a major incentive to GDP.
Gross domestic product
The history of the concept of GDP should be distinguished from the history of changes in ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector, by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In the words of one academic economist "The actual number for GDP is therefore the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework."