Flashcards on AP Macroeconomics: Chapter 14 - The National Economic Accounts, created by bxyp on 24/02/2015.
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Created by bxyp
over 9 years ago
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Created by bxyp
over 9 years ago
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Who is responsible for calculating the GDP?
What does the GDP measure?
How does BEA keep make "flash" estimates of GDP?
What are the 4 expenditures?
What is the formula for GDP?
Another name for real GDP?
Another name for nominal GDP?
Underground economy
What are other things that are not counted in the GDP?
GNP
National Income (NI)
Personal Income (PI)
Disposable Personal Income (DPI)
Is GDP an under- or over-statement?
Explain the difference between nominal GDP, real GDP, and GDP per capita.
