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
1. <strong>Gross</strong> <strong>Domestic</strong> <strong>Product</strong><br />
• Dollar Value - cash value of all goods <strong>and</strong> services<br />
• Final Goods <strong>and</strong> Services - All goods/services offered to<br />
consumers<br />
• Within a Country’s s border - American <strong>and</strong> foreign within U.S.<br />
• tracks the exchange of money<br />
DOLLAR VALUE<br />
YES: Cash value of<br />
all goods <strong>and</strong><br />
services sold<br />
NO: Cost of<br />
producing goods <strong>and</strong><br />
services<br />
FINAL GOODS AND<br />
SERVICES<br />
YES: Goods <strong>and</strong><br />
services offered to<br />
consumers<br />
NO: Intermediate<br />
goods used to<br />
produce other goods<br />
<strong>and</strong> services<br />
WITHIN A<br />
COUNTRYS BORDER<br />
YES: American or<br />
foreign companies<br />
producing in the<br />
United States<br />
NO: American<br />
companies producing<br />
overseas
Change language