Economic Growth

The governments main economic responsibility

The governments four main macroeconomic goals are

Economic Growth

The government’s main economic responsibility

The government’s four main macroeconomic goals are

define economic growth

Factors which lead to economic growth

Factor causing economic decline

Define national income

The three methods of calculationg national income

The output approach

the income approach

the expenditure approach

Gross Domestic Product (GDP)

Gross National Product (GNP)

Net Property Income from Abroad

Income Inflows

Income Outflows

GDP at Factor Cost

Subsidies

Indirect tax

Investment

Fixed capital formation

Factors that influence the level of investment

define interest rates

Real GDP

Nominal GDP

GDP deflator

Informal or hidden economic activity

Business trade cycle

Contraction

Depression

expansion or recovery

advantages of economic growth

disadvantages of economic growth

Problems with a recession