It differs from its counterpart in that it does not account for investments by foreigners nor investments held by natives in [*] other countries.
A gap in this quantity is related with unemployment in Okun's law, and cost-push inflation is characterized by a decrease in this value. It differs from its counterpart in that it does not account for investments by foreigners nor investments held by natives in [*] other countries. Calculated using the income or expenditure approach, this value is defined as the sum of private consumption, gross investment, government spending and net exports. A decrease in it for two consecutive quarters is known as a recession. Also known as aggregate demand, for 10 points, identify this quantity that is equal to the net goods and services produced in a country.
A gap in this quantity is related with unemployment in Okun's law, and cost-push inflation is characterized by a decrease in this value.
{gross domestic product} [accept {GDP}]