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Macroeconomics: Economic growth and fluctuations

Macroeconomics: Economic growth and fluctuations. Chapter 1. The point of Chapter 1. Macro economics and its uses Historical performance of the US economy Explaining the basic framework used in this text Some agreed-upon facts in practical macro economics. Macroeconomics.

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Real vs. Nominal GDP

Real vs. Nominal GDP. GDP is the value of all final goods and services produced. Nominal GDP measures these values using current prices. Real GDP measure these values using the prices of a base year. Real GDP controls for inflation. Changes in nominal GDP can be due to:

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Macroeconomics: Economic growth and fluctuations

Real vs. Nominal GDP