The macroeconomic perspective

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Introduction to the macroeconomic perspective

Measuring the size of the economy: gross domestic product

1 Gdp measured by components of demand

2 Gdp measured by what is produced

3 The problem of double counting

4 Other ways to measure the economy

5 Key concepts and summary

Adjusting nominal values to real values

1 Converting nominal to real gdp

2 Key concepts and summary

Tracking real gdp over time

1 Key concepts and summary

Comparing gdp among countries

1 Converting currencies with exchange rates

2 Gdp per capita

3 Key concepts and summary

How well gdp measures the well-being of society

1 Limitations of gdp as a measure of the standard of living

2 Does a rise in gdp overstate or understate the rise in the standard of

3 Gdp is rough, but useful

4 Key concepts and summary

Source: OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11

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