Economic Concern of Brazil

Economic Concern of Brazil
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Economic Concern of A South American Country
The South American country that I have taken to a research is Brazil. Brazil is the largest country in South America and 5th largest country in the world. The population of Brazil was 200.4 million in 2013 (Leman, 2008). The economic concern for which I will examine is Gross Domestic Product (GDP). GDP may be defined as all the finished goods and services that are produced in a particular country at in a certain period of time. It means the overall profits added at the production level. GDP is classified in three ways which gives matching results
(Jain, 2007).
The first GDP is equal total expenditures of the goods and services produced in Brazil in a definite period of time. The second is where GDP is equal to the total of value added at each production level in the industries. The third classification is where GDP is equal to the sum of the generated income from production such as taxes from production, compensation with employees, gross operating surplus and less importation of subsidies. The GDP in Brazil is worth 2346.12 billion US dollars in 2014 (World Bank, 2014).
Sources: (World Bank, 2014).
According to the World Bank’s estimates, the GDP value of Brazil is 3.99% of the world’s economy. GDP and the output gap are the most important variables taken into consideration by agents when they are making decisions (Leman, 2008). Essentially, the GDP of Brazil averaged 469.5 USD between 1960 and 2012 reaching a record high of $2615.19 Billion in December of 2012 and a record low $15.2 Billion in December 1960. The real growth rate or what is referred to as the annual change of Brazil was 1.0% in 2012 estimates, 2.7% in 2...