Unformatted text preview: 1. Historical Origins of GDP
2. Methods of Calculating
How to measure production
spending on producer
Income earned on production y .1
GDP = Production ( output) = Income z Expenitunes
Well use these terms interchangebly
" Expenditure " equation for GDP. Computes GDP based on sector of the
GDP = C + I +G+ NX
C: consumption Iz Investment Ge Government Spending My= Nee expo
what puts production in each categor is who Is buying
I An of this only includes production that fits GDP definition
Two Types of Questions
1. Is X in US 2018 GDP?
- Covered in GDP, Lesson 2
2. Is X in the investment category of 2018 GDP?
- G DP Lesson 7 +3 - If yes does H
Not deathed to measure everything...
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- Fall '08