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Transcript
Economic
Growth
A Historical Look




Real GDP: total value of goods & services
produced in a nation, adjusted for inflation
Economic growth: percent change in real
GDP
What is the typical behavior of economic
growth over time and during the business
cycle?
Quarterly growth rates catch turning points in
the economy more quickly; typically reported
at SAAR (seasonally adjusted annualized
rates)
Components of GDP
 Many
ways to break down GDP, the most
useful from a business perspective is
based on spending by different groups
(consumption, investment, government
purchases, net exports)
 Understanding what impacts each
component helps to better predict future,
short-term economic performance