Please enable JavaScript.
Coggle requires JavaScript to display documents.
Nation's Economy GDP Economic Indicators - Coggle Diagram
Nation's Economy
GDP
Economic Indicators
Economy
Households
Firms
Department of central government
Department of local government
Macroeconomic
GDP
Goods and services during a specific year
Not all goods counted
Goods in their final form
Includes only goods sold for their first time
The flow-of-product approach
Four categories
Consumption - all expenditures in individuals
Investment
Government
X (import minus export)
The earnings-and-cost approach
Measures receipts
Business profit
Wages and salaries
Taxes
Inrerest on deposit
Money received as rent
Predictions of exansion or contraction of the economy
Leading indicators
Rise and fall before
change in economy
Coincident indicators
Change at the same time with economy
Lagging indicators
Rise and fall after changes in economy
GDP
Two cons. negative quarterly GDP
recession
Tool to measure economic performance
US Commerce Department
Index for each of the three sets of indicators
Translates the economy's state
Inclusive of
Public consumption
Private consumption
Investments
Government outlays
Foreign balance trade