2. Includes durable goods, nondurable goods and services. 3. Accounts for nearly 70% of GDP; services are the largest part of personal consumption spending. Gross Private Domestic Investment - GPDI 1. Investment into fixed investments such as residential and nonresidential structures, equipment, ...
4.1-definition, measurement, and functions of money, 4.2-functions of money, 4.3-the federal reserve system and money creation, 4.4- the demand for money a…
the study of economic aggregate variables (something that gets summed up in the economy -- GDP) positive economies "how DO things work" (ex. how does something impact market behavior) normative economics "how SHOULD things work (ex. making value judgements and considering ethical behavior) ...