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Macro Economics > Introduction to Macroeconomics > Flashcards

Introduction to Macroeconomics Flashcards

1
Q

Gross Domestic Product (GDP)

A

The market value of all final goods and services produced in the nation. (usually over a year)

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2
Q

Real Gross Domestic Product (RGDP)

A

Gross domestic product adjusted for changes in prices

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3
Q

Value Added

A

value added to product at each stage of production

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4
Q

Leakage

A

any diversion from domestic spending…

Savings, Imports, and Taxes

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Macro Economics (13 decks)

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