ECN 001B Lecture 8: Macroeconomic Data
Document Summary
Market value of all final goods and services. Final - ready for use by consumer (car) Intermediate - inputs in the production of a final good (paint, steel for a car) Gdp per capita = 18 trillion/321 million people = per capita. C = consumption - spending by households on goods & services excluding purchases of new residence (2015: 68% of gdp) I = investment -> spending on business capital, residential capital, & inventories (17% of gd. Business capital - includes both physical structures & equipment and intellectual pro. Inventories - includes anything firm produces but doesn"t sell. Note: this definition is not the same as we use to talk about buying financial assets ( f new houses for personal of gdp) l property products ets (stocks, bonds, etc. ) s (ex. Note: this definition is not the same as we use to talk about buying financial assets (
