📄️ What is GDP?
Learn what GDP is, how it's calculated, and why it matters as the primary measure of a country's economic health and output.
📄️ Nominal vs real GDP
Learn why real GDP beats nominal GDP for understanding true economic growth, and how inflation distorts the economic picture.
📄️ The GDP deflator
Learn what the GDP deflator is, how it differs from the CPI, and why it's a critical tool for converting nominal GDP to real GDP.
📄️ GDP per capita
Learn how GDP per capita measures living standards, why it's better than total GDP for comparing countries, and what it does and doesn't tell you.
📄️ The expenditure approach
Learn how economists calculate GDP using the expenditure approach—the most widely used method that breaks down spending into consumption, investment, government, and net exports.
📄️ The income approach to GDP
Learn how the income approach calculates GDP by summing all wages, profits, and rents. Understand why this method reveals who earned the wealth behind economic growth.
📄️ The production approach to GDP
Discover how the production approach calculates GDP by summing value added across all industries and stages. Learn why this method prevents double-counting and reveals sectoral contributions to growth.
📄️ Consumption (C): the largest GDP component
Learn why consumption accounts for 65–75% of GDP in developed economies and how consumer spending drives recessions and recoveries. Understand the factors that shape consumption and why it matters for forecasting growth.
📄️ Investment (I) in GDP
Explore how business investment (I) drives long-term productivity and growth. Learn the difference between gross and net investment, why it fluctuates sharply in recessions, and how it shapes future earning power.
📄️ Government spending (G) in GDP
Learn how government spending (G) contributes to GDP and why it matters for stabilizing the economy. Understand the fiscal multiplier, debt constraints, and the distinction between productive and non-productive government spending.
📄️ Net exports in GDP
Learn how net exports (exports minus imports) affect GDP, why trade deficits and surpluses matter, and how international trade shapes economic growth.
📄️ GDP vs GNP vs GNI
Understand the differences between GDP (Gross Domestic Product), GNP (Gross National Product), and GNI (Gross National Income), and learn why each matters for economic measurement.
📄️ How GDP growth rate is calculated
Learn how economists calculate GDP growth rates, why they measure both nominal and real growth, and how to interpret quarterly and annual growth data.
📄️ Real GDP growth formula
Master the real GDP growth formula, learn how to adjust for inflation, and understand the difference between nominal and real economic expansion.
📄️ Three sources of economic growth
Understand what drives long-term economic growth: labor growth, capital accumulation, and productivity improvement. Learn why productivity is the most important.
📄️ Solow growth model
Learn how the Solow growth model explains long-term economic growth through capital, labor, and productivity gains.
📄️ Productivity and GDP
Understand how productivity improvements increase output per worker and accelerate GDP growth across economies.
📄️ Limitations of GDP
Explore why GDP is imperfect: it ignores inequality, environmental damage, leisure time, and non-market goods.
📄️ Alternatives to GDP
Explore frameworks beyond GDP like HDI, GPI, and national wellbeing metrics that measure human progress more comprehensively.
📄️ Purchasing power parity
Learn how purchasing power parity adjusts exchange rates to compare living standards fairly across countries.