TAILIEUCHUNG - Lecture Macroeconomics (9/e): Chapter 7 - David C. Colander

Chapter 7 - Measuring the aggregate economy. After reading this chapter, you should be able to: Calculate GDP using the expenditures and, value added approaches; calculate aggregate income and explain how it relates to aggregate production; distinguish real from nominal concepts; describe the limitations of using GDP and national income accounting. | Measuring the Aggregate Economy The government is very keen on amazing statistics They collect them, add them, raise them to the nth power, take the cube root and prepare wonderful diagrams. But you must never forget that every one of these figures comes in the first instance from the village watchman, who just puts down what he damn pleases. — Sir Josiah Stamp (head of Britain’s revenue department in the late 19th century) Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter Goals Calculate GDP using the expenditures and value added approaches Distinguish real from nominal concepts Calculate aggregate income and explain how it relates to aggregate production Describe the limitations of using GDP and national income accounting 2 Aggregate Accounting Aggregate accounting (or national income accounting) is a set of rules and definitions for measuring economic activity in the economy as a whole Aggregate accounting is a way of measuring .

• Kinh tế học
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Macroeconomic problems
• International macroeconomic policy issues
• Aggregate economy
• Aggregate economy
• Bài giảng Kinh tế vĩ mô
• Science of macroeconomics
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Principles of microeconomics
• Economic models
• Tools of microeconomics
• Microeconomic transactions
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory