Gross Domestic Product

Beschreibung

Mindmap am Gross Domestic Product, erstellt von Deriana Mitchell am 07/02/2017.
Deriana Mitchell
Mindmap von Deriana Mitchell, aktualisiert more than 1 year ago
Deriana Mitchell
Erstellt von Deriana Mitchell vor fast 8 Jahre
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Zusammenfassung der Ressource

Gross Domestic Product
  1. determines the size of the economy in time and growth of the economy overtime
    1. Measures the total market value of all final goods and services produced in a economy in a given year
      1. Goods: items that are touchable like cars, clothes, etc.
        1. Services: actions like hair cuts, customer support, car repairs, etc.
        2. Increasing in GDP:
          1. the country has produced more goods and services
            1. the country has produced more goods and services, but the prices of those goods and services have incresed
              1. The country has some combination of more goods produced and higher prices
              2. Nominal GDP: is gross domestic product evaluated at current market prices.
                1. Real GDP: a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation).
                  1. Removes the effect of price changes
                  2. GDP per person= GDP per capita (average)
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