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the total value of all goods and services and transactions in a country or territory per year (in U.S dollars)
The total amount of money in the Philippines last 2009 was about 4.98 Trillion pesos. Also in that same year Philippine money had received its highest value.
The barter trade on the Gold Coast, 1725–45, % of value of total barter transactions (actual distribution and expected distribution in parenthesis).
According to the Money Gram website, money recipients have a year to pick up money sent to them. Proper identification is required for all money transactions.
Since GDP is the total $ amount of financial transactions (buying and selling)... if you increase the number of transactions and/or the $ amount per transaction, GDP would increase. if the # of transactions in one year was 1,000,000,000 and the average $ amount per transaction was $1,000, GDP would be $1,000,000,000,000 or $1T. If the next year the # of transactions was 1,100,000,000 and the average $ amount per transaction was $1,000, GDP would be $1,100,000,000,000 or $1.1T or a 10% increase in GDP. I don't know how many transactions we had in the past year or how much the average $ amount was per transaction, but since GDP was about $14.5 trillion...it was a lot but not enough to grow GDP per capita to make people (buyers) and businesses confident enough to spend their cash or take on additional debt.
Thousands and millions of transactions take place.
Reference:cprogramming-bd.com/c_page3.aspx#calculates the value of money
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It was conciderd a lot of money
No, it decreaces. Inflation means every year money looses value.
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1$