00:01
We're going to be looking at the concept of gdp, specifically looking at activities that are given to identify the one activity that should be excluded from gdp measurement or calculation.
00:16
We have to go back to some definition of gdp to say it is the total value of goods and services produced within the boundaries of a country.
00:30
So it's the total value of all final goods and services produced within.
00:36
So i'll just underscore the main features of the definition here, within the borders of a country in a particular period.
00:48
Particular period.
00:50
Okay, so usually year, but it's the total value of goods and services, goods and services produced within the of a country in a particular period, usually a year.
01:08
So it's also important to understand that when it is gdp, it's irrespective of the nationality the producer, irrespective of the nationality of the producer.
01:28
So we are basically now going to look at the statements that are given to identify the one that is not going to be part of gdp.
01:41
Also the first one that is given is that there are jets that are bought from the us air force by the brazilian air force.
01:53
Okay, so this obviously is going to be part of gdp.
02:01
Jets board...