0 Leader: GDP Economics: GDP as an Economic Indicator Why GDP and not GNP? What is Gross Domestic Product (GDP)? How is GDP related to a nations total.
0 A thinker to get us started… What is inflation? A problem with GDP: Every year, inflation causes prices of goods & services to rise, so GDP rises.
Gross Domestic Product (Part 2). Real versus Nominal GDP Inflation can distort economic variables like GDP, so we have two versions of GDP: One is corrected.
SSEMA1, SSEMA2, SSEMA3-EOCT Review
$Inflation = an increase in the average price level $When there is a lot of money in the economy, each dollar buys you less $Your purchasing power is.
The Data of Macroeconomics
