Three different ways to calculate GDP By econ101helpOctober 28, 20160 Three methods of calculating GDP: The Expenditure Approach The Income Approach The production Approach Gross Domestic Product (GDP) measures the…

The natural level of output By econ101helpOctober 27, 20160 The natural level of output, depicted as the Long Run Aggregate Supply (LRAS) curve is the level of output that…

Calculating GDP growth By econ101helpSeptember 12, 20160 GDP growth is the measurement of the percentage change in GDP from one year to another. It is a metric…

Balance of trade formula By econ101helpFebruary 24, 20160 Balance of trade The balance of trade (B.O.T) is defined as the value of exports minus the value of imports.…

Potential GDP formula and output gap By econ101helpSeptember 30, 20154 Potential GDP Potential GDP formula Potential GDP - Example Output gap Examples Potential GDP Potential GDP is how much a…