Gross Domestic Product
AP Macro Economics Review Peggy Pride, Presenter.
2011 Day 2 By: Aakriti, Gloria, Cynthia, Theresa.
Measuring Domestic Output & National Income
Chapter 12.1 A
Measuring a Nation’s Income n The Economy’s Income & Expenditure n The Measurement of Gross Domestic Product (GDP) n The Components of GDP n Real versus.
GDP THE MARKET VALUE OF ALL FINAL GOODS AND SERVICES PRODUCED WITHIN A NATION IN A GIVEN TIME.
Gross Domestic Product Chapter 09 Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
NOMINAL GDP v. REAL GDP. DEFINITIONS Nominal GDP is the market value of all final goods and services produced in a given year. It is calculated as (Price.
Measuring Economic Activity It is also called NATIONAL INCOME ACCOUNTING. Why should we measure? - Observe a country’s performance over time. - Compare.
Chapter 24 – Measuring Domestic Output and National Income.
Gross Domestic Product and Growth Chapter 12. Why Measure Growth? After the Great Depression, economists felt it was important to measure macroeconomic.
