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10 cards from this deck
Flow of new output produced in an economy over a period
Stock: point in time; Flow: over a period
Replacement investment + Net investment
GDP: output within borders; GNI: income earned by residents
Real GNPPopulation\frac{\text{Real GNP}}{\text{Population}}PopulationReal GNP
Unpaid productive activity like housework, DIY, volunteer work
About 10% of measured GNP
Investment that enlarges capital stock, enables economic growth
Exchange rates that equalise purchasing power between countries
Non-monetised economy, hidden economy, quality changes, externalities
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