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Three Approaches in calculating GDP

Three Approaches in calculating GDP. Three Approaches. Mary spends a final good $10, the market value is $10, the income to the factors is $10 National Expenditure =National Output = National Income 1. Expenditure approach 2. Output approach 3. Income approach. Expenditure Approach.

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2.96k views • 44 slides

Chapter 5

Chapter 5. Measuring GDP and Economic Growth. You will learn. How GDP is measured The difference between real and nominal GDP Aggregate income and aggregate expenditures How real GDP is used to compute economic growth Problems with interpreting real GDP.

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436 views • 36 slides

Ch.22 GDP Worksheet 1-calculations

Ch.22 GDP Worksheet 1-calculations. Year Production of X Price X 2000 20 $5 2001 20 $10 2002 20 $20 Nominal GDP (P x Q) Real GDP (current year Q x base yr P) $100 2000 $100 $200 2001 $100 $400 2002 $100. Economic Growth? .

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165 views • 9 slides

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Compare gdp - PowerPoint PPT Presentation

Three Approaches in calculating GDP

Chapter 5

Ch.22 GDP Worksheet 1-calculations