2.2 Three Approaches to Measure GDP O Product approach Definition: gDP is the value of the Final Goods and Services Produced in the Economy During a given Period 友学经济学院
2.2 Three Approaches to Measure GDP Product approach ❖Definition: GDP is the value of the Final Goods and Services Produced in the Economy During a Given Period
2.2 Three Approaches to Measure GDP 0 Product approach Note: Market value New product and service Final product and service 且济器2
12 Product approach ❖Note: ❖ Market value ❖ New product and service ❖ Final product and service 2.2 Three Approaches to Measure GDP
2.2 Three Approaches to Measure GDP O Product approach GDP is the sum of value added in the Economy during a given Period 友学经济学院
Product approach GDP is the Sum of Value Added in the Economy During a Given Period. 2.2 Three Approaches to Measure GDP
2.2 Three Approaches to Measure GDP 2 expenditure approach o Four categories of expenditure consumption (C) investment (1) government purchase (G) net export (NX) 友学经济学院
expenditure approach Four categories of expenditure ❖ consumption （C） ❖ investment （ I ） ❖ government purchase （G） ❖ net export（NX） 2.2 Three Approaches to Measure GDP
2.2 Three Approaches to Measure GDP 2 expenditure approach GDP=C+i+g+NX 友学经济学院
expenditure approach GDP = C+ I +G + NX 2.2 Three Approaches to Measure GDP