Measuring the Size of the Economy_G9DLSU

It refers to the financial income of the total sector and industries covered by the economy of the country.

• National Income or National Output

• Gross Domestic Product

• Economic Performance

• National Economy

• Economic Stability

the value of all final goods and services produced within a country in a given year.

• National Income or National Output

• Gross Domestic Product

• Economic Performance

• National Economy

• Economic Stability

This occurs when the cost of production increases such as asking for an increase in workers' wages, or increasing prices of raw materials and inputs for the factors of production. 

• Cost-Push Inflation

• Deman-Pull Inflation

• Built-in inflation

the increase in prices in other aspects, there is an expectation that the other products will also increase in the future.

• Cost-Push Inflation

• Deman-Pull Inflation

• Built-in inflation

This is due to the positive change in the purchasing power of the individuals wherein they can demand more of the product.

• Cost-Push Inflation

• Demand-Pull Inflation

• Built-in inflation

It is the sum of gross domestic product and net factor income from the rest of the world.

• Gross National Product

• Gross Domestic Product

• Net Primary Income

• Consumption Expenditure

• Economic Numbers

the sum of all expenses on FINAL goods

• Gross National Product

• Gross Domestic Product

• Net Primary Income

• Consumption Expenditure

• Economic Numbers

It measures the prevailing standard of living of a country. This is measured with the use of the gross domestic product of the country. Usually, a 3% or more increase in the growth rate is considered suitable for the economy.

• Gross National Product

• Gross Domestic Product

• Net Primary Income

• Consumption Expenditure

• Economic growth

This refers to unemployment due to voluntary changes that happen in the economy such as going to different locations.

• Frictional Unemployment

• Cyclical Unemployment

• Structural Unemployment

• Demand Unemployment

This measures the number of people who are part of the labor force that doesn’t have a job.

• Frictional Unemployment

• Cyclical Unemployment

• Structural Unemployment

• Demand Unemployment

• Unemployment