Aggregate Output, Prices, and Economic Growth
About the Lecture
The lecture Aggregate Output, Prices, and Economic Growth by Edu Pristine is from the course Archiv - Economics. It contains the following chapters:
- Gross Domestic Product (GDP)
- Income
- Relationship among the Saving, Investment, Fiscal and Trade Balance
Author of lecture Aggregate Output, Prices, and Economic Growth
Edu Pristine
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Excerpts from the accompanying material
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... domestic product (GDP) using expenditure and income approaches ...
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... those goods and services.Gross Domestic Product (GDP) include the following: " Market value of final goods and services " Value of intermediate goods are not included " Transactions within geographical boundaries are only included " Transfer payments are not included " Goods or services that can be resold are not included " Government provided goods and services are included, which are valued GDP is the market ...
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... from GDP in order to avoid double counting. " GDP can be measured either from the value of final ou tput or by summing the value added at each stage of the productio n and distribution process. The sum of the value added at e ach stage is equal to the final selling price ...
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... government expenditure " Given GDP as Y = C + I + G + NX, investment is majorcomponent of GDP " Investment is amount incurred to buy fixed productive asset s and inventory which generates income Hence when investment declines less output is generated and less capital is created causing the growth ...
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... ofA. All transactions in an economy during a one-year period, B. All goods and ...
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... Compare the sum-of-value-added and ...
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... both the following methods for calculation of the GDP. " Sum of Value Added: The GDP is calculated by summing t he addition to value created at each stage of production an d distribution. " Value of Final Output: GDP is calculated by summing th e value ...
