Please enable JavaScript.
Coggle requires JavaScript to display documents.
A NATION’S ECONOMY. GDP. ECONOMIC INDICATORS - Coggle Diagram
A NATION’S ECONOMY. GDP. ECONOMIC INDICATORS
economy
Microeconomics
individual areas of economic activity
Macroeconomic
general features of a country’s economy
level of inflation
unemployment
interest rates
gross domestic product (GDP)=
consumption+government+investment+X(net exports)
which computes the output produced by factors of production located in domestic economy
Department of Commerce computes GDP
factors limit the types of products counted
a specific year
final form
only goods sold for the first time
Spending for products falls into four categories
net exports (1%)
spending of all levels of government (21%)
expenditures of individuals for final goods and services (65% GDP)
private domestic investment (13%)
predict expansion or contraction of the economy
leading
rise or fall after a change in economic activity
coincident
change at about the same time that
lagging
rise or fall just before