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Social Science
Economics
Macroeconomics
Chapter 11 Economics
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national income and product accounts
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method of calculating and keeping track of consumer spending, sales of producers, business investment spending, government purchases, and a variety of other flows of money between different sectors of the economy
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Terms in this set (17)
national income and product accounts
method of calculating and keeping track of consumer spending, sales of producers, business investment spending, government purchases, and a variety of other flows of money between different sectors of the economy
final goods and services
goods and services sold to the final, or end, user.
intermediate goods and services
goods and services, bought from one firm by another firm, that are inputs for production of final goods and services.
gross domestic product (GDP)
the total value of all final goods and services produced in the economy during a given period, usually a year
value added
(of a producer) the value of its sales minus the value of its purchases of inputs
