Chapter 23: Measuring the Income of a Nation

Defining gross domestic product 2:15
The components of GDP - National Income Identity 12:13
Real vs nominal GDP 22:04
Calculation of nominal and real GDP 25:20
The GDP deflator 33:41
Calculating the inflation rate with the GDP deflator 36:55
The Rule of 72 45:13
What does GDP ignore? 47:53

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A spontaneous thought: What will be the ultimate form of human economics? Could it be that the highest level of economics is the absence of economics itself? This might be because everyone seems to have superpowers and can be self-sufficient. The Bible seems to mention this kind of economic state for the future. Or, if a super AI could be realized, some say there would no longer be a need for economics.

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Sir, that's a lot of ice-cream.

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