Details Title: Ch. 12 Description: GDP, Growth, and Instability Total Flash Cards: 7 Created: 11/23/2008 10:10:25		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Economics Flashcards
Cards in this set: Term Gross Demestic Product Definition The total market value of all final goods and services produced annually within the boundries of the U.S. Term adding up all that was spent to buy total output in a certain year. Definition Measuring GDP Term Four Categories of spending Definition Personal Cumsumption Expenditures (c), Gross Private Domestic Investment (Ig), Government Purchases (G), Net Exports (Xn) Term Personal Consumption Expenditures (C) Definition Expenditures by households for durable goods, nondurable goods, and services. Term Gross Private Investment (Ig) Definition Expenditures for newly produced capital goods (such as plant and equipment) and for additions to inventories Term Government Purchases (G) Definition Government expenditures on final goods, services, and social capital. Term Net Exports (Xn) Definition Exports minus imports