tes--American Samoa, Baker Island, Guam, Howland Island, Jarvis
Island, Johnston Atoll, Kingman Reef, Midway Islands, Navassa Island, Northern
Mariana Islands, Trust Territory of the Pacific Islands (Palau), Palmyra Atoll,
Puerto Rico, Virgin Islands, Wake Island
MISCELLANEOUS
6 -- Antarctica, Gaza Strip, Paracel Islands, Spratly Islands, West Bank,
Western Sahara
OTHER ENTITIES
4 -- oceans--Arctic Ocean, Atlantic Ocean, Indian Ocean, Pacific Ocean
1 -- World
266 -- total
Exchange rate: The value of a nation's monetary unit at a given date or over a
given period of time, as expressed in units of local currency per US dollar and
as determined by international market forces or official fiat.
Gross domestic product (GDP): The value of all final goods and services produced
within a nation in a given year.
Gross national product (GNP): The value of all final goods and services produced
within a nation in a given year, plus income earned abroad, minus income earned
by foreigners from domestic production.
Gross world product (GWP): The aggregate value of all goods and services
produced worldwide in a given year.
GNP/GDP methodology: In the "Economy" section, GNP/GDP dollar estimates for the
great majority of countries are derived from purchasing power parity (PPP)
calculations rather than from conversions at official currency exchange rates.
The PPP method normally involves the use of international dollar price weights,
which are applied to the quantities of goods and services produced in a given
economy. In addition to the lack of reliable data from the majority of
countries, the statistician faces a major difficulty in specifying, identifying,
and allowing for the quality of goods and services. The division of a GNP/GDP
estimate in local currency by the corresponding PPP estimate in dollars gives
the PPP conversion rate. On average, one thousand dollars will buy the same
market basket of goods in the US as one thousand dollars--converted to the local
currency at the PPP conversion rate--will buy in the other country. Whereas PPP
estimates for OECD countries are quite reliable, PPP estimates for developing
countries are often rough approximations. The latter estimates are based on
extrapolation of numbers published by the UN International Comparison Program
and by Professors Robert Summers and Alan Heston of the University of
Pennsylvania and their colleagues. Because currency exchange rates depend on
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