Gdp And National Income Flashcards

Analyze the interaction of aggregate demand and supply in determining economic equilibrium, with a particular emphasis on consumer spending and its role in shaping economic outcomes. Assess the influence of fiscal policy on gross domestic product, price levels, and national income. Develop expertise in interpreting fiscal changes and their implications for the economy, enhancing skills in economic analysis and policy evaluation.

Investigate the circular flow of income with a focus on the interactions between households and firms. Gain an understanding of factors of production as well as methods for calculating GDP. Explore the importance of 'green GDP' in evaluating economic performance with environmental sustainability in mind.