Tag: gdp

4 pages tagged gdp.

Pages

Chapter 36: The Gross Domestic Product — Economics 101

GDP measures the total value of final goods and services produced inside a country in a year — equivalently, total spending on that output and total income earned from it. What it counts, what it excludes, and why.
Chapter 39: Approaches to GDP — Economics 101

Three different ways to measure GDP — expenditure, income, and production — that should give the same answer. Plus the crucial distinction between nominal and real GDP and the GDP deflator.
Chapter 41: What GDP Doesn’t Tell Us — Economics 101

The structural blind spots of GDP — unpaid labor, income distribution, environmental cost, leisure, and wellbeing — and the alternative measures (GPI, HDI, Happy Planet Index, green GDP) that try to patch them.
Chapter 48: Aggregate Demand and Aggregate Supply — Economics 101

Aggregate demand (AD) and aggregate supply (AS) are the macroeconomic counterparts to the individual market’s supply-and-demand model. Together they explain why economies expand and contract, why unemployment and inflation move the way they do, and why the short run and long run behave so differently.