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How Well GDP Measures the Well-Being of Society
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By the end of this section, you will be able to discuss how productivity influences the standard of living, explain the limitations of GDP as a measure of the standard of living, and analyze the relationship between GDP data and fluctuations in the standard of living.

Subject:
Social Studies
Material Type:
Lesson
Provider:
Texas Education Agency
Date Added:
08/07/2023
Principles of Macroeconomics 2e
Unrestricted Use
CC BY
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Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

Subject:
Economics
Material Type:
Full Course
Provider:
Rice University
Provider Set:
OpenStax College
Date Added:
06/29/2017
Principles of Macroeconomics 2e, The Macroeconomic Perspective, Measuring the Size of the Economy: Gross Domestic Product
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Identify the components of GDP on the demand side and on the supply side
Evaluate how economists measure gross domestic product (GDP)
Contrast and calculate GDP, net exports, and net national product

Material Type:
Module
Date Added:
09/20/2018