the data of macroeconomics
gross domestic product
the total market value of final goods and services produced within a nation’s borders in a given time period. (Usually a year)
Expenditure and Income
Total expenditure on domestically-produced final goods and services.
Total income earned by domestically-located factors of production.
GDP per capita
the expenditure components of GDP
consumption
investment
government spending
net exports
government spending (G)
all government spending on goods and services
excludes transfer payments
consumption
durable goods
nondurable goods
services
last a long time
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last a short time
work done for consumers
investment
Definition 1: Spending on [the factor of production] capital.
Definition 2: Spending on goods bought for future use
include:
business fixed investment
residential fixed investment
inventory investment
net exports
spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)
is the purchase of goods that will be used in the future to produce more
goods and services.
[purchase of a new house]
includes the salaries of government workers
and expenditures on public works
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