Karteikarten: Understanding GDP and Economic Indicators — 10 Karten

GDP Components — main parts?

Consumption, investment, government spending, net exports.

GDP Components — definition?

Sum of consumption, investment, government spending, net exports.

Measuring GDP — methods?

Production, income, and expenditure approaches.

Measuring GDP — methods?

Production, income, expenditure approaches.

Real vs Nominal GDP — difference?

Real is inflation-adjusted; nominal is not.

Nominal vs Real GDP — difference?

Nominal is unadjusted; real is inflation-adjusted.

GDP limitations — example?

Does not account for informal economy or well-being.

Inflation measurement — tool?

Consumer Price Index (CPI).

Causes of inflation — example?

Demand-pull and cost-push factors.

Unemployment types — example?

Frictional, structural, cyclical, natural.