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Aira D.

Catubay
BSN-II
Health Economics
Gross national product
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Gross national product (GNP) is a broad measure of a nation's total economic activity. GNP is the value of
all finished goods and services produced in a country in one year by its nationals.

Gross Domestic Product


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Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity.
More specifically, GDP represents the monetary value of all goods and services produced within a nation's
geographic borders over a specified period of time.

National Income
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The total net value of all goods and services produced within a nation over a specified period of time,
representing the sum of wages, profits, rents, interest, and pension payments to residents of the nation.

Balance Of Trade
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The difference between a country's imports and its exports. Balance of trade is the largest component of a
country's balance of payments.

Balance of payment
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The balance of payments, also known as balance of international payments and abbreviated BoP or BP, of a
country is the record of all economic transactions between the residents of the country and the rest of the
world in a particular period (over a quarter of a year or more commonly over a year).

Consumer price index


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A measure that examines the weighted average of prices of a basket of consumer goods and services, such
as transportation, food and medical care. The CPI is calculated by taking price changes for each item in the
predetermined basket of goods and averaging them; the goods are weighted according to their importance.

Fiscal policy
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Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and
influence a nation's economy. It is the sister strategy to monetary policy through which a central bank
influences a nation's money supply.

Monetary policy
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Monetary policy is the macroeconomic policy laid down by the central bank. It involves management of
money supply and interest rate and is the demand side economic policy used by the government of a
country to achieve macroeconomic objectives like inflation, consumption, growth and liquidity.

GNP Deflator

Aira D. Catubay
BSN-II
Health Economics
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In statistics, a deflator is a value that allows data to be measured over time in terms of some base period,
usually through a price index, in order to distinguish between a changes in the money value of a gross
national product (GNP) that come from a change in prices, and changes from a change in physical output.

Money GNP
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An economic statistic that includes GDP, plus any income earned by residents from overseas investments,
minus income earned within the domestic economy by overseas residents.

Current GNP
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the market value of all final products produced by the resources of the economy during a specific period of
time. a measure of a country's economic performance, or what its citizens produced (i.e. goods and
services) and whether they produced these items within its borders.

2.) Illustrate the CIRCULAR FLOW of MONEY through graphical representation.

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