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.
Read the whole note.
Next Friday: Business Cicles
- Fridays Academy