Gross Domestic Product
... • Nominal GDP: no adjustment for inflation (“current” dollar value used). • Is “current” GDP measured at current market prices. May overstate the value of production because of inflation. • Real GDP: adjusted for inflation (converted to base year prices). Measured with a “fixed dollar” that is held ...
... • Nominal GDP: no adjustment for inflation (“current” dollar value used). • Is “current” GDP measured at current market prices. May overstate the value of production because of inflation. • Real GDP: adjusted for inflation (converted to base year prices). Measured with a “fixed dollar” that is held ...
File - Kevin Y. Shih
... • Talk to professor(s)!! Go to their websites to see what research they do! • Grad school/job recommendation letters!! ...
... • Talk to professor(s)!! Go to their websites to see what research they do! • Grad school/job recommendation letters!! ...
Economic growth
... The simplest way to measure GDP is to add up all that was spent to buy total output in a certain year. Four categories of spending are added up Personal Consumption Espenditures (C): Expenditures by households for durable goods, nondurable goods, and services. ...
... The simplest way to measure GDP is to add up all that was spent to buy total output in a certain year. Four categories of spending are added up Personal Consumption Espenditures (C): Expenditures by households for durable goods, nondurable goods, and services. ...
Slide 1
... produced in the United States whether by domestic or foreign resources. • A measure of growth in the economy and a basis for other measures. ...
... produced in the United States whether by domestic or foreign resources. • A measure of growth in the economy and a basis for other measures. ...
Gross Domestic Product (GDP) oriented - Rights
... Society holds its perception that the wealth of one country in general takes gross domestic product (GDP) as target for development. GDP is an indicator of all goods and services within one nation for a specific period of time. GDP contains the total money value of every activity undertaken in one c ...
... Society holds its perception that the wealth of one country in general takes gross domestic product (GDP) as target for development. GDP is an indicator of all goods and services within one nation for a specific period of time. GDP contains the total money value of every activity undertaken in one c ...
SA Economic Indicators
... SOURCE: StatsSA | Frequency: Quarterly | Release date: Q1 – June, Q2 – September, Q3 – December, Q4 – March ...
... SOURCE: StatsSA | Frequency: Quarterly | Release date: Q1 – June, Q2 – September, Q3 – December, Q4 – March ...
SOLUTION EXAM 08/07/04
... MR = MC, which implies profit maximization, but a monopolist’s MR is always less than the price of its good, because the monopolist faces a downward-sloping demand curve. So, the MR curve lies below its demand curve. ...
... MR = MC, which implies profit maximization, but a monopolist’s MR is always less than the price of its good, because the monopolist faces a downward-sloping demand curve. So, the MR curve lies below its demand curve. ...
National Accounts - continuously struggling to catch
... What about education, training, marketing and other intrangibles? Based on criteria such as return, appropriability, rivalry the boundary looks hazy Shifts in the boundary could lead us to re-write economic history with impacts for policy (including fiscal ratios if defined wrt. GDP) Hence, ...
... What about education, training, marketing and other intrangibles? Based on criteria such as return, appropriability, rivalry the boundary looks hazy Shifts in the boundary could lead us to re-write economic history with impacts for policy (including fiscal ratios if defined wrt. GDP) Hence, ...
Introduction
... • It is important not to confuse the total value of an activity with the marginal value of increasing the activity. Just because health care is more important than parks does not mean funding should be increased on healthcare at the expense of parks. • Marginalist principle: any policy or action sho ...
... • It is important not to confuse the total value of an activity with the marginal value of increasing the activity. Just because health care is more important than parks does not mean funding should be increased on healthcare at the expense of parks. • Marginalist principle: any policy or action sho ...
The Value Revolution in Economics Wealth
... • Qualitative Wealth is far more complex: requires more quantification • Qualitative Wealth is place-based or specific to circumstances • Qualitative Wealth is needs-based, requiring examination of consumption. • Accounting takes place on many levels in terms appropriate to that level ...
... • Qualitative Wealth is far more complex: requires more quantification • Qualitative Wealth is place-based or specific to circumstances • Qualitative Wealth is needs-based, requiring examination of consumption. • Accounting takes place on many levels in terms appropriate to that level ...
chapter 18 - production, income, and employment
... purchases—including the raw materials—are considered final consumption goods. Thus, the net effect on GDP is –$450 + $200 = –$250. d. The lottery winnings are a transfer payment by the government; they are not included in GDP because nothing is produced. However, there is a $10,000 increase in GDP; ...
... purchases—including the raw materials—are considered final consumption goods. Thus, the net effect on GDP is –$450 + $200 = –$250. d. The lottery winnings are a transfer payment by the government; they are not included in GDP because nothing is produced. However, there is a $10,000 increase in GDP; ...
Slide_6-3
... Simply measuring and monitoring the rate at which real output grows over time reveals very little about how standards of living are changing, if growth is sustainable, and whether economic welfare is improving. Here are two possible measures of living standards: Real GDP per capita ...
... Simply measuring and monitoring the rate at which real output grows over time reveals very little about how standards of living are changing, if growth is sustainable, and whether economic welfare is improving. Here are two possible measures of living standards: Real GDP per capita ...
Your Reward for Hard Work Your paycheck should reflect your gross
... How a business manages its finances is a key factor in whether or not that business succeeds. Where do businesses find the money to get started? ...
... How a business manages its finances is a key factor in whether or not that business succeeds. Where do businesses find the money to get started? ...
Gross Domestic Product
... purchases of goods and services, and exports minus imports = the total spending on domestically produced final goods and services in the economy. ...
... purchases of goods and services, and exports minus imports = the total spending on domestically produced final goods and services in the economy. ...
Chap015
... – Saving is that part of disposable income not spent or income minus consumption. – By 2006, the U.S. saving rate was negative as consumers were spending more than they were earning. LO-4 ...
... – Saving is that part of disposable income not spent or income minus consumption. – By 2006, the U.S. saving rate was negative as consumers were spending more than they were earning. LO-4 ...
Measuring Economies
... of all economic activities done by all the people and companies of a country. Problem: It counts activities done in other countries by a company based in the home country. This misrepresents the amount of economic activity actually done in the country So they came up with a new measure… ...
... of all economic activities done by all the people and companies of a country. Problem: It counts activities done in other countries by a company based in the home country. This misrepresents the amount of economic activity actually done in the country So they came up with a new measure… ...
Chapter 11
... part of the price of the new car), but ______________________ are included. ___________________ items – used cars, garage sale items not included when sold. _________________________ – welfare, foreign aid, social security. ...
... part of the price of the new car), but ______________________ are included. ___________________ items – used cars, garage sale items not included when sold. _________________________ – welfare, foreign aid, social security. ...
UNITED NATIONS NATIONS UNIES
... 3. Identify your outputs – These are the products of your activity and are typically tangible and countable; 4. Identify your outcomes and impacts – These are the results of your activity, both intended and unintended. In this context, impacts are considered to be long term, with a wide effect on th ...
... 3. Identify your outputs – These are the products of your activity and are typically tangible and countable; 4. Identify your outcomes and impacts – These are the results of your activity, both intended and unintended. In this context, impacts are considered to be long term, with a wide effect on th ...
Statistics Users Forum November 2009 Geoff Mulgan, Director The
... • from single measures to indices (poverty, HDI, Indices of Civic Health) • from activities to outputs, to true outcomes (QALYs and DALYs, carbon reductions etc) • from material to subjective measures (fear of crime, patient satisfaction &c) ...
... • from single measures to indices (poverty, HDI, Indices of Civic Health) • from activities to outputs, to true outcomes (QALYs and DALYs, carbon reductions etc) • from material to subjective measures (fear of crime, patient satisfaction &c) ...
Gross Domestic Product - McGraw Hill Higher Education
... person would get if all output were divided evenly among the population. • In 2012, per capita GDP in the U.S. was approximately $49,000 – more than five times the world average. ...
... person would get if all output were divided evenly among the population. • In 2012, per capita GDP in the U.S. was approximately $49,000 – more than five times the world average. ...
Module Long-run Economic Growth
... If a worker has more education and training, human capital, he/she tends to be more productive. As jobs and the global economy become more complex, nations with a more highly educated workforce will be able to produce more output per worker than nations with a lower level of education. Today nearly ...
... If a worker has more education and training, human capital, he/she tends to be more productive. As jobs and the global economy become more complex, nations with a more highly educated workforce will be able to produce more output per worker than nations with a lower level of education. Today nearly ...
Genuine progress indicator
Genuine progress indicator, or GPI, is a metric that has been suggested to replace, or supplement, gross domestic product (GDP) as a measure of economic growth. GPI is designed to take fuller account of the health of a nation's economy by incorporating environmental and social factors which are not measured by GDP. For instance, some models of GPI decrease in value when the poverty rate increases. The GPI is used in green economics, sustainability and more inclusive types of economics by factoring in environmental and carbon footprints that businesses produce or eliminate. ""Among the indicators factored into GPI are resource depletion, pollution, and long-term environmental damage."" GDP gains double the amount when pollution is created, since it increases once upon creation (as a side-effect of some valuable process) and again when the pollution is cleaned up, whereas GPI counts the initial pollution as a loss rather than a gain, generally equal to the amount it will cost to clean up later plus the cost of any negative impact the pollution will have in the mean time. While quantifying costs and benefits of these environmental and social externalities is a difficult task, ""Earthster-type databases could bring more precision and currency to GPI's metrics."" ""Another movement in economics that might embrace such data is the attempt to 'internalize externalities' - that is, to make companies bear the costs"" of the pollution they create (rather than having the government bear that cost) ""by taxing their goods proportionally to their negative eco-impacts.""GPI is an attempt to measure whether the environmental impact and social costs of economic production and consumption in a country is a negative or positive factor in overall health and well-being. By accounting for the costs borne by the society as a whole to repair or control pollution, poverty and prosperity GPI balances GDP spending against external costs. GPI advocates claim that it can more reliably measure economic progress, as it distinguishes between the overall ""shift in the 'value basis' of a product, adding its ecological impacts into the equation.""(Ch. 10.3)Comparatively speaking, the relationship between GDP and GPI is analogous to the relationship between the gross profit of a company and the net profit; the Net Profit is the Gross Profit minus the costs incurred; the GPI is the GDP (value of all goods and services produced) minus the environmental and social costs. Accordingly, the GPI will be zero if the financial costs of poverty and pollution equal the financial gains in production of goods and services, all other factors being constant.