That’s off the mark by trillions of GDP right?
RE: That’s off the mark by trillions of GDP right?
Off the top of my head, here’s how I would calculate it roughly ( and economists out there can correct me if I am wrong ).
Let’s say 2012 GDP was $15 Trillion. Forbes tells us that From the fourth quarter of 2012 to the fourth quarter of 2013 real GDP gained 2.5%.
2.5% of $15 trillion is $0.375 trillion or $375 Billion dollars.
So no, it is off the mark by just a few hundred billion dollars. That’s still a huge amount of money. We haven’t been thinking in terms of Billions for the longest time.