N.G R E G O R Y M A N K I W23P R I N C I P L E S O FF O U R T H E D I T I O NMeasuring a Nations IncomeECON2010 Lecture 11CHAPTER 23 MEASURING A NATIONS INCOMEIn this chapter,look for the answers to these questions:What is Gross Domestic Product(GDP)?How is GDP related to a nations total income and spending?What are the components of GDP?How is GDP corrected for inflation?Does GDP measure societys well-being?2CHAPTER 23 MEASURING A NATIONS INCOMEMicro vs.MacroMicroeconomics:The study of how indi
