Consumption, capital, final and intermediate goods
Stocks and flows
Gross investment and depreciation
National income accounting
Two-sector circular flow
Value added, expenditure and income methods
GNP, NNP, GDP and NDP at market price and factor cost
Real and nominal GDP, GDP deflator and welfare
Learning objectives
Calculate a national income aggregate by a stated method and explain its limits as a welfare measure.
Labs for this chapter are on the way
We are building worlds, labs and stories for National Income and Related Aggregates. Meanwhile, practise its questions or explore the rest of Social Science.
