Summary Of "The Economic Aggregates" By Jorge Souto - UNIVERSITY SUMMARIES - E-book - ePub

We have summarized here the essential of this book by the author. THE ECONOMIC AGGREGATESMacroeconomics studies an overview of economic aggregates and their interaction. The set of standards, procedures and conventions designed to measure these aggregates is known as National Accounting or National Accounts. The wealth generated in a country can be articulated around the so-called fundamental macroeconomic equation.
A society generates a set of needs that are satisfied through goods, these goods can be classified as consumer goods when they are aimed at satisfying immediate needs (food, clothing, etc.) or investment when they are intended to be part of the production process. For example, a car can be a durable consumer good, if it is intended to be used by a family, or a capital good if it is used as a taxi and thus forms part of the productive apparatus providing services, in this case transportation.