Uses of National Income Data (AQA A-Level Economics): Flashcards

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

$\frac{\text{Real GNP}}{\text{Population}}$

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