100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
GDP-Production and Growth CA$43.55   Add to cart
Quickly navigate to
Preview
  2.  
  3. Université De Québec ( )
  4.  
  5. Business Economics
  6.  
  7. Eco325

Exam (elaborations)

GDP-Production and Growth
 12 views  0 purchase

What is GDP? Measure of aggregate output? Nomial Vs Real GDP? Two Approaches to GDP? Shortcomings of GDP? Composition and distribution of the output? Noneconomic sources of well-being? GDP Per Capita Meaning? Production and growth ppt Economic Growth

Preview 4 out of 32  pages

Document information

  • January 6, 2023
  • 32
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

All for this textbook (15)

Written for

All documents for this subject (1)

Seller

avatar-seller
Noman011

Content preview

Measuring Domestic
Output and
National Income

,Assessing the Economy's Performance
National income accounting measures the economy's
performance by measuring the flows of income and
expenditures over a period of time.
National income accounts serve a similar purpose for
the economy, as do income statements for business
firms.
Consistent definition of terms and measurement
techniques allows us to use the national accounts in
comparing conditions over time and across countries.
The national income accounts provide a basis for of
appropriate public policies to improve economic
performance.

,National Income Accounting
Bureau of Economic Analysis compiles
National Income and Product Accounts
Assess health of economy
by comparing levels of production at regular
intervals.
Track long run course of the economy
to see whether it has grown, been constant, or
declined.
Formulate policy
safeguard and improve the economy's health.

, Gross Domestic Product
The primary measure of the economy's performance is its
annual total output of goods and services (aggregate output).
There are several ways to measure aggregate output
depending upon how one wishes to define “an economy.”
Measure of aggregate output
GDP is the monetary measure of the total market value of all
final goods and services produced within a country in one year.
GDP is the value of what has been produced in the economy
over the year, not what was actually sold.
Monetary measure
Money valuation allows the summing of apples and oranges;
money acts as the common denominator.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Noman011. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$43.55. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$43.55
  • (0)
  Add to cart