The author--N.Gregory Mankiw,professor of economics at Harvard University.
"Economics is a study of mankind in the ordinary bussiness of life."--Alfred Marshall
Why should you to study economics?
Three reasons:
1. It will help you understand the world in which you live.
2.It will make you a more astute participant in the economy.
3.It will give you a better understanding of both the potential and the limit of economic policy.
The principles of economics can be applied in many of life's situations.
Chapter 23 --Measuring a Nation's Income
table of contents
1.The Economy's Income and Expenditure
2.The Measurement of Gross Domestic Product(GDP)
"GDP Is the Market Value..."
"...of All..."
"...Final..."
"...Goods and Services..."
"...Produced..."
"...Within a Country..."
"...In a Given Period of Time."
3.The components of GDP
Other Measures of Income
Consumption
Investment
Government Purchases
Net Exports
Case Study:The Components of U.S. GDP
4.Real versus Nominal GDP
A Numerical Example
The GDP Deflator
Case Study:Real GDP over Recent History
5.Is GDP a Good Measure of Economic Well-Being?
In The News:The Underground Economy
In The News:Beyond Gross Domestic Product
Case Study:International Differences in GDP and the Quality of Life
6.Conclusion
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