Macroeconomics Notes PDF
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Summary
These notes cover macroeconomics, focusing on the concepts of GNP and GDP. The document explains how these measures are calculated and their relation to income earned by Americans in the US and abroad.
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Day 1 Macroeconomics ○ Study of the economy as a whole GNP: Income earned by Americans in the U.S. and abroad ○ GNP^US=GDP^ US = [AI - FI] AI=income earned by americans abroad= American Income FI= income earned by foreigners in the U.S.= Foreign...
Day 1 Macroeconomics ○ Study of the economy as a whole GNP: Income earned by Americans in the U.S. and abroad ○ GNP^US=GDP^ US = [AI - FI] AI=income earned by americans abroad= American Income FI= income earned by foreigners in the U.S.= Foreign Income If [ AI- FI ]>0…. Then gnp>GDP… this is true for u.s. IF [Al - Fl]
