Macro Notes

Macro Notes - GDP-Gross Domestic Products -Market value of...

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GDP-Gross Domestic Products -Market value of all final goods & services produced in an economy for a given time period -Excludes intermediate goods: raw materials of products. GNP- Gross National Product -Market Value of all final goods & services produced by domestic companies for a given period of time Stock Variables Variables measured at a given point in time Ex. Debt/ Wealth Flow Variables Variables measured per unit of time over a period of time Ex. Deficit/ Income Expenditure Approach Y= C+I+G+NX Y= GDP C= Consumption I= Investment G= Gov’t Purchases NX= Net Exports C Durable goods (last 3yrs or longer) Non-Durable Goods (less than 3 yrs) Services
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I Private businesses fixed investment ( Capital Expenditures) Changes in Inventories Non-Residential Housing G Excludes gov’t transfers (welfare, Social Sec., unemployment.) NX Net Exports NX= Exports-Imports Real GDP -Measured in Constant dollars -Adjusted for inflation
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This note was uploaded on 04/08/2008 for the course ECO 205 taught by Professor Jayakumar during the Spring '08 term at Tampa.

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Macro Notes - GDP-Gross Domestic Products -Market value of...

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