Gross Domestic Product
Watch these three videos to analyze the definition of Gross Domestic product and the ways in which this definition avoids double-counting and the effects of price changes.
Sources:
Mary J. McGlasson, https://youtu.be/yUiU_xRPwMc?list=PLF2A3693D8481F442
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Khan Academy, https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/circular-econ-gdp-tutorial/v/parsing-gross-domestic-product and https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/circular-econ-gdp-tutorial/v/more-on-final-and-intermediate-gdp-contributions
These works are licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License.
Last modified: Friday, May 21, 2021, 3:52 PM