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. 2. Saving, Investment, and Net Exports

. 2. Saving, Investment, and Net Exports

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Government Dis(saving)

• The government saves or dissaves, as do

individuals, with a resulting budget surplus

or deficit. When the government dissaves,

households and businesses must save more

to obtain the same level of national saving.



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The production approach



The production approach looks at GDP from

the standpoint of value added by each input

in the production process.

• The three approaches--spending, income,

and production– (should) result in

equivalent values for GDP.



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Figure 18.5 (Macro 5)

Value Added in Coffee: From Beans to Espresso



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3. Real GDP and Nominal GDP

• Since GDP is the dollar value of goods and

services measured in price units, as prices change,

GDP changes without any change in the

underlying production, income, or spending of an

economy. A method must be used to hold the

effect of price increases constant, particularly

when inflation is present to any degree.



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. 2. Saving, Investment, and Net Exports

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