Real gross domestic product (real GDP) is the market value of all goods and services produced in the economy, measured at constant prices. Its growth represents a change in the aggregate output; hence economists use it as an economic growth
Real GDP
Autonomous Expenditure: Formula, Components, Determinants
What's it: Autonomous expenditure is unaffected by income level. In other words, they will still exist even if the income equals zero. Spending on items such as food and drink is an example. They are essential for meeting our basic needs. So, we