Krugman AP Macroeconomics Chapter 11
Subject:
Economics [1]
Tags:
economics [3]
Econometrics [4]
macroeconomics [6]
Measuring GDP [8]
inflation [11]
Economic growth [12]
GDP deflator [13]
Business [14]
behavior [15]
Human development [16]
Computing [17]
Electronic documents [19]
Psychoanalysis [21]
Human behavior [22]
Attachment theory [24]
Technology [25]
Chapter 11: Interpreting Real Gross Domestic Product ? -The difference between real GDP and nominal GDP -Why real GDP is the appropriate measure of real economic activity ? GDP: a measure of the size of the economy represents increase in prizes of goods and services rather than an increase in output provides a good way to compare the size of different economies but not a good measure of the economy?s growth over time can grow to economic expansion or just inflation Real GDP: measures actual changes in aggregate output/ adjusted for price changes total value of all final goods and services produced during a given year calculated using the prices of a selected base year (assumed prices stay constant)