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Deflationary Gap
A deflationary gap exists when there is insufficient demand available in the economy to generate a full-employment equilibrium. |
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Personal Disposable Income( National Income)
Personal Disposable Income is the income remaining with individuals and households after deduction of all taxes levied against their income and their property by the government. |
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National Income Accounting - Nominal GDP
GDP is adjusted by dividing nominal GDP by a price deflator to arrive at the real GDP |
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National Income Accounting - Expenditure Approach to Calculating GDP
The Expenditure Approach calculates GDP by adding four possible types of expenditures. |
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National Income Accounting - Gross Domestic Product at Market Price.
Gross Domestic Product is the market value of the final goods and services produced during a year within the domestic territory of a country. |
