Lecture

Economic Growth: Main Components of GDP

Description

This lecture covers the main components of GDP, including private and public consumption, investment, trade balance, and national savings. It also discusses the relationship between GDP, net domestic product, and national income, as well as the importance of maximizing GDP by boosting domestic production and controlling imports. Additionally, it analyzes the trade deficit between the USA and China, highlighting the growing imbalance in trade of goods and services between the two countries.

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