McGraw-Hill/Irwin Copyright ? 2001 The McGraw-Hill Companies,Inc,All rights reserved,
Chapter 21
Measuring Economic Activity
McGraw-Hill/Irwin Copyright ? 2001 The McGraw-Hill Companies,Inc,All rights reserved,
Gross Domestic Product Can Be Measured
Either as (a) a Flow of Final Products or,
Equivalently,as (b) a Flow of Costs
T-153
Figure 21-1
Source,U.S,De a tment of Commerce,Shaded regions ar major economic downturns,
McGraw-Hill/Irwin Copyright ? 2001 The McGraw-Hill Companies,Inc,All rights reserved,
Nominal GDP Grows Faster than
Real GDP Because of Price Inflation
T-154
Figure 21-2
Source,U.S,Departmen of Commerce
McGraw-Hill/Irwin Copyright ? 2001 The McGraw-Hill Companies,Inc,All rights reserved,
Share of Consumption in National
Output Has Risen Recently
T-155
Figure 21-3
Source,U.S,Departmen of Commerce
McGraw-Hill/Irwin Copyright ? 2001 The McGraw-Hill Companies,Inc,All rights reserved,
Starting with GDP,We Can Calculate
National Income (NI) and Disposable
Personal Income (DI)
T-156
Figure 21-4