KAZAKHSTANI ECONOMY Finance 241 Gazizova Rufina Kazakhstani

KAZAKHSTANI ECONOMY Finance 241 Gazizova Rufina

Kazakhstani economy The economy of Kazakhstan is the largest economy in Central Asia. It also has considerable agricultural potential with its vast steppe lands accommodating both livestock and grain production, as well as developed space infrastructure, which took over all launches to the International Space Station from the Space Shuttle.

GDP: - Real -Nominal GDP deflator CPI Labor force Unemployment

GDP Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. Real GDP measure these values using the prices of a base year. Nominal GDP measures these values using current prices.

GDP

C (consumption) is normally the largest GDP component in the economy. There are following categories: durable goods, nondurable goods, and services. Includes food, rent, jewelry, gasoline, and medical expenses. I (investment) includes, for instance, business investment in equipment, but does not include exchanges of existing assets. Spending by households on new houses is also included in investment. G (government spending) is the sum of government expenditures on final goods and services. It includes salaries of public servants, purchases of weapons for the military and any investment expenditure by a government. X (exports) represents gross exports. GDP captures the amount a country produces, including goods and services produced for other nations' consumption. M (imports) represents gross imports.

GDP deflator The GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy.

CPI A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households. The "updated cost" (the price of an item at a given year) is divided by the initial year, then multiplied by one hundred.

Labor force The labor force is the actual number of people available for work. The labor force of a country includes both the employed and the unemployed. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.

Unemployment occurs when people are without work and actively seeking work.

Conclusion Macroeconomics can also help individual businesses and investors make better decisions. It is important and worthwhile to follow the major macroeconomic indicators like GDP, inflation and unemployment The underlying economic principles of a government will say much about how that government will approach taxation, regulation, and government spending and similar policies.

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