Growth 2 Flashcards
1
Q
Nominal GDP
A
The total price of all goods and services produced in an economy
2
Q
Real GDP per capita
A
The total output produced in an economy in a year divided by the population.
3
Q
Remittances
A
Money earned by workers which is sent home to family in another country.
4
Q
Gross National Income
A
Gross Domestic Product plus net income from abroad.
