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Measurement of Economic Activity and Historical Evolution
Inventory
Accounting
Keynes defines the main macroeconomic variables to be measured
Kuznets proposes a system of national accounts
Circular flow of income.
Circular flow of income.
Samuelson (1948)
Production, intermediate inputs and value added.
Production, intermediate inputs and value added.
Practice by your own
Here, with Net Taxes on Production and Imports =0 : VA -> Gross Operating Surplus
Check: Sum of Revenues - Sum of Cost = Sum VA
GDP_factor_cost = VA
Mathematical Properties of the Natural/Neperian Logarithm (ln)
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