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Marco Economics - Coggle Diagram
Marco Economics
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Consumer Price Index (CPI)
A price index - reflect how cost change in each year.
CPI is a measure of the overall cost of the goods and services bought by a typical consumer.
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Limitation CPI
Ignores newly introduced goods - P quality- consumers switching to cheaper substitute goods
Unemployment
Definition
People in the working age, are able to work, want to work, doesn't have a job and are actively searching for one.
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Gross Domestic Products (GDP)
the market value of all goods and services produced within an economy in a time.
within the borders of a country
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Limitation
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doesn't account the downgrade of old capital (machine, factory)
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Gross National Products - produced by the residents of a country (+ abroad)
GNP=GDP+ Net income NFI (factor) from abroad