2.1.1 Economic Growth
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/6
There's no tags or description
Looks like no tags are added yet.
Last updated 6:40 PM on 5/19/25
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
7 Terms
1
New cards
Potential Economic Growth
an expansion in the productive capacity of the economy
2
New cards
Actual Economic Growth
The rate of growth of real GDP in a period
3
New cards
Real GDP
an estimate of the volume of GDP taking account of changing prices through time
4
New cards
GDP
a measure of the total economic activity carried out in the domestic economy over a period of time
5
New cards
Nominal GDP
is when GDP is measured using current prices
6
New cards
GNI (Gross National Income)
GDP plus net income from abroad
7
New cards
PPP - purchasing power parity
an exchange rate adjusted to reflect the purchasing powers in different countries
Note 
Flashcards (57)