Macro Economics
© 2010 Pearson Addison-Wesley. Gross Domestic Product GDP Defined GDP or gross domestic product is the market value of all final goods and services.
Fed challenge meeting october 8
Taking the Nation’s Pulse Chapter 7 Definition GDP: market value of final goods and services produced in a country in a given year Nominal GDP: GDP measured.
MEASURING GDP AND ECONOMIC GROWTH 5 CHAPTER. Objectives After studying this chapter, you will able to Define GDP and use the circular flow model to.
1 Now Playing: The Biggest Hit in Economics: The Gross Domestic Product.
GDP – Measuring Total Production and Income Taking the Nation’s Pulse Chapter 8.
1 Economics 122a Fall 2010 Agenda for this week: 1. The classical macro model (Chap 3) 2. How economists measure output/income (Chap 2)
1 Now Playing: The Biggest Hit in Economics: The Gross Domestic Product Starring Irving Fisher (Yale) Simon Kuznets (Harvard) Steve Landefeld (U.S. Bureau.
