S E25: Gross Domestic Product - Adding Up Everything We Do
Think Like An Economist
Definition of GDP
G d p measures how much water we're adding to our mackroc bath. To measure this flow, we look at g d p over specific time periods like a year. G d p includes the market value of exports, but not imports. Inflation means that even if we don't change how many apples or oranges or other stuff we produce, real g d p might still rise. We've got an episode on inflation coming up in a few weeks.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
