Macroeconomics chapter 12 section 1

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Transcript of Macroeconomics chapter 12 section 1

Economy as a whole

GDP

Output

Excluded

Intermediate Products

Secondhand Sales

Nonmarket Transactions

Underground Economy

Adjusted for inflation

Real

Current

Limitations

5 Major Statistical Categories

1. GNP

2. NNP

3. NI

4. PI

5. DPI

Economic Sectors and Circular Flows

Consumer Sector

Investment Sector

Government Sector

Foreign Sector