Create an account
national income accounting
a system that collects macroeconomic statistics on production, income, investment, and savings
gross domestic product (GDP)
the dollar value of all final goods and services produced within a country's borders in a given year
goods that last for a relatively long time, such as refrigerators, cars, and DVD players
the total amount of goods and services in the economy available at all possible price levels
the amount of goods and services in the economy that will be purchased at all possible price levels
key economic variables that economists use to predict a new phase of business cycle
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