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Unit 2: National Income Vocab Term GDP Y= C+I+G+NX Final goods Intermediate goods Tangible goods Intangible goods Inventories Consumption Investment Transfer payments Per capita GDP GNP NNP Depreciation NI Personal Income Disposable personal income Nominal GDP Real GDP Definition Related Concepts Unit 2: National Income Formulas Formula for GDP sing Expenditures/Spending Formula with numbers inserted Formula for GDP using income Formula with numbers inserted Describe Formula for GDP using value added Insert numbers for example of determining GDP using value added approach Formula for Real GDP Insert numbers into formula for Real GDP
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