A NATION’S ECONOMY. GDP. ECONOMIC INDICATORS

economy

firms

departments

households

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TI

level of production

economy

Microeconomics

Macroeconomics

individual areas

general features

Statistics

GDP

goods and services

output

factors of production

counted

value determined

factors limit

final product

sold for the first time

specific year

measure GDP

flow-of- product approach

earnings-and-cost approach

all money

total value

new product

GDP increases

categories

new capital goods

government

expenditures of individuals

net exports

65 per cent

private domestic investment

personal consumption expenditures

13%

1%

21 %

production

all money

calculating

makes

business profits

country earns

wages

taxes

predict expansion or contraction

indicators

coincident

lagging

leading

shifts

major change

change

composite index

three sets

average