Terms
27 new/unreviewed 27 total
Term
GDP
Definition
The total MONETARY value of all FINAL goods and services produced DOMESTICALLY within a YEAR.
New/Unreviewed
Term
GNI
Definition
The total income of a nation’s people and businesses. GNI = GDP + (Inflows - outlfows)
New/Unreviewed
Term
Nominal GDP vs Real GDP
Definition
nominal: GDP/GNI measured in current prices that does not account for inflation. real: GDP/GNI that is adjusted for inflation.
New/Unreviewed
Practice Tests
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