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MR01 Macroeconomic Indicators - Coggle Diagram
MR01 Macroeconomic Indicators
Economic Performance Indicators
Gross Domestic Product (GDP)
Output
Final Goods & Services
Market Value
Within Country
Given Time Period
Circular Flow Models
2-sector
4-sector
Output = Income = Expenditure = Aggregate Demand
GDP Measurement
Income
FOP Payments
Rental
Interest
Wages
Profits
Expenditure
Consumption (C)
investments (I)
Government Expenditure (G)
Net Exports (X - M)
Output
Industry Sectors
Value Added
GDP as Indicator
Importance
Policy Decisions
Business decisions
Report Card
Standard of living
GDP per Capita
Limitations
Economic losses
Unreported income
Composition
Income distribution
Non-market production
Leisure
Political freedom
Social justice
Gross National Product (GNP)
GDP + Net Income Inflow - Net Income Outflow