3.1 Intro To Macro And Measuring Gdp

The document provides an overview of key macroeconomic concepts including: 1. The circular flow model showing flows between households and firms, including real flows (goods/services) and monetary flows (income, spending). 2. The five main macroeconomic goals and measuring the value of an economy using Gross Domestic Product (GDP). 3. Key injections to and withdrawals from the circular flow model, and how a shift in these factors can affect growth. For example, increased exports (an injection) could boost another sector.