| A | B |
|---|
| gross domestic product(GDP) | is the total market value of all final goods and services products. |
| gross domestic product | to avoid counting components that are bought and sold multiple times,GDP includes on the market value of the total. |
| consumer spending | all expenditures by households on consumer good and consumer expenditure for services. |
| investment by business | includes all final purchase of machirery,equipment,and tools by business. |
| goverment purchase | includes spending for products that goverment consumes inproviding public services. |
| net express | are export minus imports. |
| nominal GDP versus real GDP | it;s difficult to compare values over time without correcting them for inflation or deflation. |
| nonminal GDP | or adjusted GDP is gross domestic correcting them for inflation or deflation |
| economic growth | an explancion of real GDP(or real GDP per capital) one time is economic growth. |
| economic growth | is an economic goal of goverment since it rauses tge standards of living in society and lessons the durden of scarity. |
