Chapter 4 Flashcards
(6 cards)
1
Q
GDP =
A
expenditure = income
2
Q
GDP expenditure method
A
C + G + I + X - M
3
Q
net investment
A
gross investment - depreciation
4
Q
GDP income approach
A
wages + OFI + depreciation + indirect taxes - subsidies
5
Q
real GDP
A
quantity * price of reference year
6
Q
nominal GDP
A
quantity * price of the same year
