economic growth
- Created by: courtroberts
- Created on: 20-03-17 11:16
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- Economic growth
- GDP
- Real
- Constant prices using a base year and removing inflation
- Nominal
- raw unajusted data - includes inflation
- Real
- GNI
- GDP + net income from abroad
- GNP
- GDP + net property income from abroad (e.g shares)
- limitations - GDP as a measure of living standard
- doesn't take population into account (use per capita)
- non -documented black market goods
- income inequality
- quality of life factors
- exchange rate (use PPP)
- technical quality
- Gross national happiness
- A measure of a countries happiness through standard of living means
- GDP
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