Macro Mindmaps chapters 1-4

, Senatee Seaments
On
GREGATEE EmmeRTSO
RICE
e
GDP measure ofaggregate economic activity
② INVESTMENT
=




⑪ LIMPTION


tienen
areaorneed itGod
- -




① ② ·expenditurecurrentpericaB, s
the mainaD
o expenditure on consumer goods, services during



Y
*
Expenditure approach
the current period

productapproach during the currentp eriod




antaraa
components impose the




NENinvestment
· consumers butnot
by




overal
artimagein
·two types of

GDP is calculated as total spending
approach




remiFLEEnder,
added
o
o aka value
on all final goods, services production

GDP is calculated sum of




men
o as economy
in




Meena
value added to goods - services NX=totulaxoe e

twinpenastureto itatit
-




across all units ofeconomy total imports



B
o
d (net exports)
o To calculate GDP:

↳
EaPrtNacDehtekonningaggregate Exeepenaiure
③
RNMENT
value of a ll
goods, services
spending ④



DeeACHa
e
in
- ·n



goods, alln i e rmedi a te
valueof
outof pocket
o measures price changes in goods, services purchased
services
by urban consumers
goods a service is

·onlyexpendituresorfinal




E
obtain total value




③ D chance in goods overtime



en ArchatebruteninirakerPas ingarewasinteaasantrahotatmy
quality of


income approach o over time quality of new goods improve
economic agents contributing
·keh in
·GDP is calculated by adding up all income received by
thebuyerisreceivingmorein exchangeformancein
o


to production
the

biased upwards
income
is


profitsmadebyfirms,compensationofemployees,
income includes proprietor's
·
·rather than race ofincrease in cp1:more




CHAPTER TWO
accuratat
e auses
men

r ate ofinflation in consumer goods is the




Eee
of

implicitconsumption price deflator




MEASUREMEN
component G DP
of


- goods produced-goods sold in given year
OINVENTORY INVESTMENT
value ofoutput produced by domestic factors
r Taking
A
W
accountofnew goods
. GROSSNATIONAL PRODUCT (GND) <reinigenensidearrestintegers ofnew products to prevent
o need to take into account quality advance
bias inflation
downward bias ofr eal GDP growths upward
of


does nott ake in account leaves outn on market




undergranateeaninmostinment
how income distributed




S G ↳meeteALTH+
market price




SummerMinig
flows:rate per unitt ime (GDP, consumption, investment a net exports)
1 +CA
currentaccount:3




Been
o




aRenee
RES
=




o
I stocks:the
quantity in existence ofsome
object& a pointi ntime

6
3
private disposable income:YP Y NFD+ TR INT-T Itaxes therefore: wealth is accumulated through
+
+ ->
o
=




whatprivate sector

S I me
(n-earrentedinfrom emigrainmentgovernmentaent
↳ has available to spend
INT-interest on



to private sector
a
ment
↳account
*
higher unemploymentrate:


3
-> addition to nation's to current accountsurpluses

Greater
↳ dispersion in incomes ·private sector savings: whatprivate sector saves
capital stock imply residents are




↳mmme Simmer miner
across population -Savings MINUS consumption claims
accumulating
EMPLOYMENT RATE: e


ForceONRAE
UNEMPLOYMENT RATE:
↳ ofpoor
greater concentration on
foreigners
a
government savings/surplus:9" 5 TR-INT-G
-




in
people
employmenpulaire ofunemplode
ner a ccount
-o current surplus
* it
↳ quantity
unemploymentratemight deficit:D 59 T TR INT G Flow
government
= = -
+ +
=
a
- +




c laims on
of




useful for
the labor markettightness:
saving:5 SP +S y NFP-C-G 3 private saving national saving
foreigners
STOCK
=>




reason
+




↳
onational =
=
+




notaccount for how hard people
labor
determine level of ⑰


markettightness indirectm easure ofeconomic are searching for work
Welfare
↳labour markettightness falls ↳ gives into aboutdistribution ofi ncome

as
unemploymentrate ↳ income: c ow for unemployed
increases