GDP Currency value of all final goods and services produced within a country’s borders.
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Transcript of GDP Currency value of all final goods and services produced within a country’s borders.
![Page 1: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/1.jpg)
![Page 2: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/2.jpg)
GDP
• Currency value of all final goods and services produced within a country’s borders
![Page 3: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/3.jpg)
Real GDP
• Currency value of all final goods and services produced within a country’s borders minus the effects of inflation
![Page 4: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/4.jpg)
Inflation
• A general rise in the price level of an economy
![Page 5: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/5.jpg)
Consumption
• Dollar value of all goods and services purchased by households
![Page 6: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/6.jpg)
Investment
• Dollar value of all goods and services purchased by business for the purpose of using in their business
![Page 7: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/7.jpg)
Government Spending
• Dollar value of all goods and services purchased by the various agencies of the United States.
![Page 8: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/8.jpg)
Net Exports
• Dollar value of all goods and services produced in the United States and shipped to other countries MINUS the value of the goods and services imported from other countries
![Page 9: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/9.jpg)
Aggregate Demand
• The amount of goods and services ALL buyers in the economy are willing/able to buy at all the possible price levels
![Page 10: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/10.jpg)
Aggregate Supply
• The amount of goods and services ALL companies are willing to produce at ALL possible price levels
![Page 11: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/11.jpg)
GDP Per Capita
• Currency value of all final goods and services produced within a country’s borders divided by the population
![Page 12: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/12.jpg)
Imports
• Goods and services produced in other countries, then brought to the United States in exchange for currency
![Page 13: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/13.jpg)
Exports
• Goods and services produced in the United States, then sent to other countries in exchange for currency
![Page 14: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/14.jpg)
Standard of Living
• Intangible concept that seeks to represent a country’s level of economic prosperity. Correlates with GDP growth
![Page 15: GDP Currency value of all final goods and services produced within a country’s borders.](https://reader036.fdocuments.in/reader036/viewer/2022083007/56649e195503460f94b06150/html5/thumbnails/15.jpg)
C+I+G+X-M = GDP
• Consumables + Investments + Government + eXports – iMports = GDP