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5 Cards in this Set
- Front
- Back
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GDP
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Market value
Final goods and services Produced within a country In a given time period |
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The circular of expenditure and income
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Aggregate income = aggregate expenditure
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3 sources of investment
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private saving
go't budget surplus borrowing from the rest of the world |
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2 measurement of the GDP
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the expenditure approach
the income approach |
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The income approach
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wages,salaries, supplementary labour income
corporate profits interest and miscellaneous investment income farmers' income income from non-farm unincorporated businesses |
