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Measuring Domestic Output and National Income


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IN THIS CHAPTER YOU WILL LEARN:

  1. How gross domestic product (GDP) is defined and measured.


  2. The relationships among GDP, net domestic product, national income, personal income, and disposable income.


  3. The nature and function of a GDP price index.


  4. The difference between nominal GDP and real GDP.


  5. Some limitations of the GDP measure.










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