Podcast
Questions and Answers
What are some measures of national income and output used in economics?
What are some measures of national income and output used in economics?
Gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion)
How is the boundary of an economy usually defined?
How is the boundary of an economy usually defined?
By geography or citizenship
What is the purpose of national accounts?
What is the purpose of national accounts?
To estimate the total production of goods and services in a country or region
