In this training course we introduce you to the principles of macroeconomics — the study of how a country’s economy works, while trying to discern among good, better, and best choices for improving and maintaining a nation’s standard of living and level of economic and societal well-being.
- Define nominal gross domestic productÂ andÂ real gross domestic product
2. Compare and contrast as well as discuss various measures of output and income
3. Analyze the problems associated with using GDP as a measure of well-being
4. Identify the components of the expenditure and the income approaches to the measurement of GDP;