GDP Vocab

Front

Currency value of all final goods and services produced within a country’s borders.

Back

GDP

Front

Currency value of all final goods and services produced within a country’s borders, adjusted for inflation.

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Real GDP

Front

Rise in price level of an economy

Back

Inflation

Front

Dollar value of all goods and services purchased by households

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Consumption

Front

Dollar value of goods/services bought by businesses for use

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Investment

Front

Dollar value of all goods and services purchased by U.S. agencies.

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Government Spending

Front

Dollar value of goods/services produced in the U.S. and shipped abroad minus imports.

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Net Exports

Front

Goods/services all buyers in the economy are willing/able to buy at all price levels.

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Aggregate Demand

Front

Goods and services all companies are willing to produce at all price levels.

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Aggregate Supply

Front

Currency value of all final goods and services produced within a country’s borders divided by the population

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GDP per Capita