Gross Domestic Product and Economic Growth Power Point Notes
Gross Domestic Product and Economic Growth Power Point Notes Gross Domestic Product and Economic Growth Power Point Notes
National Income Accounting • System to collect and organize macroeconomic statistics on production, income, investment, and savings • Under the Department of Commerce Cabinet position in the Executive Branch of government whose main focus to promote economic growth. Hello, I am Gary Locke, the Secretary of Commerce in President Obama’s Cabinet. I am the first Chinese-American Secretary. I was two term governor of Washington, the nation’s most trade-dependent state.
1. Gross Domestic Product • Dollar Value - cash value of all goods and services • Final Goods and Services - All goods/services offered to consumers • Within a Country’s s border - American and foreign within U.S. • tracks the exchange of money DOLLAR VALUE YES: Cash value of all goods and services sold NO: Cost of producing goods and services FINAL GOODS AND SERVICES YES: Goods and services offered to consumers NO: Intermediate goods used to produce other goods and services WITHIN A COUNTRYS BORDER YES: American or foreign companies producing in the United States NO: American companies producing overseas
- Page 1: Chapter 12 Gross Domestic Product a
- Page 5 and 6: Expenditure Approach • Suppose an
- Page 7: Limitations of GDP • Non-market a
- Page 13 and 14: Measurements of the Macro economy
- Page 15 and 16: 2. Business Cycles • A periods of
- Page 17 and 18: What Keeps a Business Going • Bus
- Page 19 and 20: Business Cycles throughout history
- Page 21 and 22: Measuring Economic Growth • Real
- Page 23 and 24: Technological Progress • An incre
National Income Accounting<br />
• System to collect <strong>and</strong> organize macroeconomic statistics on<br />
production, income, investment, <strong>and</strong> savings<br />
• Under the Department of Commerce<br />
Cabinet position in the Executive Branch of government<br />
whose main focus to promote economic growth.<br />
Hello, I am Gary Locke, the<br />
Secretary of Commerce in<br />
President Obama’s Cabinet. I<br />
am the first Chinese-American<br />
Secretary. I was two term<br />
governor of Washington, the<br />
nation’s most trade-dependent<br />
state.