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N. GREGORY MANKIWECON2010Lecture123PRINCIPLES OFFOURTHEDITIONMeasuringaNation’sIncome
Inthischapter,lookfortheanswerstothesequestions:1CHAPTER23MEASURINGANATION’SINCOMEWhatisGrossDomesticProduct(GDP)?HowisGDPrelatedtoanation’stotalincomeandspending?WhatarethecomponentsofGDP?HowisGDPcorrectedforinflation?DoesGDPmeasuresociety’swell-being?
2CHAPTER23MEASURINGANATION’SINCOMEMicrovs.MacroMicroeconomics:Thestudyofhowindividualhouseholdsandfirmsmakedecisions,interactwithoneanotherinmarkets.Macroeconom
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