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Fridays Academy: Determining GDP

Ignacio Hernandez's picture

As every Friday, we are posting a teaching note prepared by Raj Nallari and Breda Griffith.

 

This week we continue looking at National Income Accounts. The note explains three different approaches for determining the GDP:

  • The Production Approach to Measuring GDP

  • The Expenditure Approach to Measuring GDP
  • The Income Approach to Measuring GDP

The note also explains the difference between Nominal and Real GDP.

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