Economics - Macro Vocab 1

Front

Dollar value of all final goods/services produced in a country annually

Back

Gross Domestic Product

Front

System of statistics and accounts tracking economic performance

Back

National Income Accounting

Front

Dollar value of all final goods, services, and structures produced in one year by U.S. residents

Back

Gross National Product

Front

Subtracting depreciation from GNP

Back

Net National Product

Front

Macroeconomic model for analyzing economic performance

Back

Output-Expenditure Model

Front

Representative selection of goods and services

Back

Market basket

Front

Statistical series measuring price changes over time

Back

Price index

Front

GDP adjusted for inflation

Back

Real GDP

Front

Price index of ~90,000 items in 364 categories

Back

Consumer price index

Front

Index of prices received by domestic producers for their output

Back

Producer price index