Macroeconomics: GDP and Economic Development

What is the study of whole economies concerned with large-scale or general economic factors?

What are the two interventions of the government to control the economy?

What is the difference between Economic Growth and Economic Development?

What does GDP measure within an economy's borders during a given period?

What are the two types of GDP mentioned in the text?

What is the purpose of National Income Accounting?

What is the value added in a 5 stage production process?

What are the three approaches of GDP mentioned in the text?

What does NET Private Domestic Investment (NPDI) represent?

What is the formula for calculating Net Private Domestic Investment (NPDI)?