National Income Accounting and Aggregate Measures · Macroeconomics

GDP and Welfare Metrics

Analyzing Gross Domestic Product as a measure of economic health and its limitations in reflecting human well-being.

Key Questions

  1. 1What trade-offs does a policy prioritizing GDP growth over environmental sustainability create?
  2. 2Why might a rising GDP fail to improve the quality of life for the average citizen?
  3. 3How can we account for non-monetary transactions in a formal economic framework?

CBSE Learning Outcomes

CBSE: National Income and Related Aggregates - Class 12
Class: Class 12
Subject: Economics
Unit: National Income Accounting and Aggregate Measures
Period: Macroeconomics

Suggested Methodologies

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The Circular Flow of Income

Understanding the continuous movement of money and goods between households, firms, and the government in a two-sector and three-sector model.

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