the data of macroeconomics - Coggle Diagram
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.
the expenditure components of GDP
GDP per capita
government spending (G)
all government spending on goods and services
excludes transfer payments
includes the salaries of government workers
and expenditures on public works
last a long time
last a short time
work done for consumers
Definition 1: Spending on [the factor of production] capital.
Definition 2: Spending on goods bought for future use
business fixed investment
residential fixed investment
is the purchase of goods that will be used in the future to produce more
goods and services.
[purchase of a new house]
spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)