宏观经济学-macroeconomics-10.pptVIP

THE MEASUREMENT OF GROSS DOMESTIC PRODUCT “GDP is the Market Value . . .” Output is valued at market prices. “. . . Of All. . .” Includes all items produced in the economy and legally sold in markets “. . . Final . . .” It records only the value of final goods, not intermediate goods (the value is counted only once). “. . . Goods and Services . . .” It includes both tangible goods (food, clothing, cars) and intangible services (haircuts, housecleaning, doctor visits). THE MEASUREMENT OF GROSS DOMESTIC PRODUCT “. . . Produced . . .” It includes goods and services currently produced, not transa