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Learning Objectives
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In this chapter you will learn:
  • How gross domestic product (GDP) is defined and measured.
  • The relationships among GDP, net domestic product, national income, personal income, and disposable income.
  • The nature and function of a GDP price index.
  • The difference between nominal GDP and real GDP.
  • Some limitations of the GDP measure.







McConnell, Macro 17e OLCOnline Learning Center

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