|
|
GOLD CERTIFICATE: Paper currency issued by the U. S. Treasury from the civil war until 1933 that could be exchanged for an equal value of gold. Gold certificates were used as part of a gold standard. With the exception of collectors, gold certificates have long been out of circulation, replaced first by silver certificates, then in the past few decades by Federal Reserve notes.
Visit the GLOSS*arama
|
|
|
|
|
Lesson Contents
|
|
Unit 1: Measuring Production |
|
Unit 2: Looking Behind GDP |
|
Unit 3: Two Views of GDP |
|
Unit 4: Measuring Income |
|
Unit 5: Issues | |
|
Gross Domestic Product
This lesson investigates one of the most noted and important measures of macroeconomic activity -- gross domestic product (GDP). GDP measures the total production of goods and services that, in principle, are available to satisfy consumers wants and needs. We see the ins and outs of the GDP measure. As a bonus, we also get a close look at several related measures of production and income, including net domestic product (NDP), national income (NI), personal income (PI), and disposable income (PI). - In the first unit of this lesson, we take a look at the process of measuring gross domestic product, including what, in principle, is being measure.
- The second unit the turns to a detailed look at what IS included in GDP and what IS NOT included in the GDP based on the difference between market transactions and economic production.
- With the third unit we take a look at the two views of measuring GDP -- expenditures and resource costs.
- Moving on to the fourth unit, we get a look at the three related measures of income -- national income, personal income, and disposable income.
- And finally, the fifth unit considers a few issues related to measuring GDP, including what BDP does measure and what GDP doesn't measure.
|
|
|
|
MARGINAL PROPENSITY TO IMPORT The change in imports purchased from the foreign induced by a change in income or production (national income or gross domestic product). The marginal propensity to import (abbreviated MPM) is another term for the slope of the imports line and is calculated as the change in imports divided by the change in income or production. The MPM plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part to the multiplier process. A related marginal measure is the marginal propensity to consume.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for poorly written technical manuals.
Your Complete Scope
This isn't me! What am I?
|
|
|
During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
|
|
|
"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
|
|
OTC
Over the Counter
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
