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These videos are stepping stones in basic macroeconomics. In the first class of macroeconomics, we should know what is gross domestic product, how is it different from gross national product.
Gross domestic product is the value of all goods and services produced in an economy during a given time period. By whom? By its own nationals and foreigners in its own economy. Gross National product is the value of all goods and services produced by economy’s residents in country’s own territory and foreign lands, during a given time period.
What is real GDP? Is there any relation of prices with GDP. If two countries have different populations, then is GDP a good measure or one must look into per capita GDP?
Lastly, we discuss, what are three different methods of calculating GDP. Here we briefly discuss, expenditure method, income method and production method
Hopefully these videos are useful to you..
What is GDP ? How do you calculate GDP?
GNP (Gross National Product)
Real GDP meaning
Per Capital GDP
Three methods of GDP Calculation
