Contents

Friday, October 9, 2015

Macro. Chapter 10 【Measuring a Nation’s Income】


1. The economy's income and expenditure



2. Activities included (and not included) in the calculation of GDP

3. Categories of expenditures


4. Measuring GDP


5. Real versus nominal GDP


6. Limitations of GDP

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  1. When a U.S. company purchases and imports automotive parts from Canada to use to build cars within the United States, this purchase increases the investment component of GDP while also decreasing net exports by the same amount. Therefore, the purchase of automotive parts from Canada causes no overall change in US GDP.

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