Rationale for GDP: A monetary measure

Activity

Principles of Macroeconomics: "Chapter 6: Measuring Total Output and Income"

• Read this chapter, which is about measuring domestic output, and attempt the "Try It" exercises. This material concentrates on the purpose and function of GDP. More importantly, this reading will help you prepare for the deeper, detailed approaches that receive coverage in subunits 2.2 through 2.5.

Khan Academy: "Parsing Gross Domestic Product"

• Watch this lecture, which discusses parsing gross domestic product.