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15 cards from this deck
Total value of output by factors of production in a period
Total output in current prices, not adjusted for inflation
Total output adjusted for inflation
Average level of GDP per head of population
An increase in actual GDP
Increase in productive capacity in an economy
Expansion, peak, contraction, trough
Two consecutive quarters of negative GDP growth
Real GDP accounts for inflation, Nominal does not
GDPcurrent−GDPpreviousGDPprevious×100\frac{GDP_{current} - GDP_{previous}}{GDP_{previous}} \times 100GDPpreviousGDPcurrent−GDPprevious×100
GDPPopulation\frac{GDP}{Population}PopulationGDP
Rightward shift in AD curve
Rightward shift of LRAS curve
Outward shift of PPF curve
Does not reflect distribution of income among residents
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