Chapter 22

Macroeconomics and Measurement

To best understand this chapter, you need to have read and understood chapters 1, 2, and 5.

(PDF version)

self-test

1. Introduction
2. The Problem of Measurement
3. Market Value
4. The Problem of Double-Counting
5. The Value-Added Method
6. Gross Domestic Product
   1. Consumption Expenditure
   2. Investment Expenditure
   3. Government Expenditure
   4. Net Exports
7. Two Measures of National Product
   1. Gross Domestic Product as the Sum of Expenditures
   2. Gross Domestic Product as Income
   3. Complications in the Income Approach
   4. Gross Domestic Product (data for 2001)
8. Real Gross Domestic Product
   1. Example
   2. The Chain Index of Real Gross Domestic Product
   3. Base Year
   4. inflation
   5. inflation example
   6. Problems in the Interpretation of GDP
      1. Population and GDP
      2. Undocumented Transactions
      3. Nonmarket Gains and Losses
9. Summary on National Income Accounting

Copyright Notice

Notice of Copyright : These documents and images have been created by Dr. Roger A. McCain and the author reserves all rights to their use for purposes of sale, publication, commercial gain, or promotion. Permission is freely granted to all to download, reproduce, copy, print, or otherwise transform these documents and images for personal use.