Economics and HDI
... GNP AND GDP GNP – “Gross National Product” Total value of all goods and services by a country over one year. Includes facilities overseas owned by domestic companies. GDP – “Gross Domestic Product” Total value of all goods and services within a country’s borders over one year. This is a good indica ...
... GNP AND GDP GNP – “Gross National Product” Total value of all goods and services by a country over one year. Includes facilities overseas owned by domestic companies. GDP – “Gross Domestic Product” Total value of all goods and services within a country’s borders over one year. This is a good indica ...
Slide 1
... human outcomes in terms of health and education (and political rights and lots of other nice things), but it is not correlated with measures of happiness. • Happiness seems to be based on people’s history and expectations- and also envy! ...
... human outcomes in terms of health and education (and political rights and lots of other nice things), but it is not correlated with measures of happiness. • Happiness seems to be based on people’s history and expectations- and also envy! ...
Productivity
... The Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a nation’s borders in a given time period. The GDP is stated as a dollar value ($). United States has the world’s largest annual GDP (over $12.5 trillion in 2005). China is the next largest eco ...
... The Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a nation’s borders in a given time period. The GDP is stated as a dollar value ($). United States has the world’s largest annual GDP (over $12.5 trillion in 2005). China is the next largest eco ...
Economic growth - Nanjing
... Economic activity (making stuff) also causes a lot of something no ...
... Economic activity (making stuff) also causes a lot of something no ...
Case 1
... euro for all EU currencies and for the US dollar and Japanese yen. The OECD also publishes PPP rates against the US dollar for all OECD currencies. Using such rates to measure GDP gives the ‘purchasing-power standard’ (PPS) GDP. ...
... euro for all EU currencies and for the US dollar and Japanese yen. The OECD also publishes PPP rates against the US dollar for all OECD currencies. Using such rates to measure GDP gives the ‘purchasing-power standard’ (PPS) GDP. ...
The Price of Everything and the Value of Nothing
... to add more to GDP. Moreover, the value of government spending is calculated based on the salaries of government workers, not the value of their output. One of my Harvard students once suggested that, given this tautology, leaders who are willing to consider occasional budgetary austerity deserve sp ...
... to add more to GDP. Moreover, the value of government spending is calculated based on the salaries of government workers, not the value of their output. One of my Harvard students once suggested that, given this tautology, leaders who are willing to consider occasional budgetary austerity deserve sp ...
MACROECONOMICS OUTPUT
... GDP can be calculated by: Expenditure approach: aggregate expenditure is called as a sum of all expenses for goods and services at market prices Income approach: summation of all incomes earned by households ...
... GDP can be calculated by: Expenditure approach: aggregate expenditure is called as a sum of all expenses for goods and services at market prices Income approach: summation of all incomes earned by households ...
14.02 Principles of Macroeconomics
... Please remember to write your TA’s name and section time on the front page of your problem set. Assume a closed economy throughout the problem set. ...
... Please remember to write your TA’s name and section time on the front page of your problem set. Assume a closed economy throughout the problem set. ...
Section 1 - Dearborn High School
... services, and structures produced in a one-year period with labor and property owned by a country’s residents. =GDP + payments received from outside the country – payments made to all foreign owned businesses within the country ...
... services, and structures produced in a one-year period with labor and property owned by a country’s residents. =GDP + payments received from outside the country – payments made to all foreign owned businesses within the country ...
module 10 review
... Tackle the Test: Free-Response Questions (answer on loose leaf). 1. Will each of the following transactions be included in GDP for the United States? Explain why or why not. a. Coca-Cola builds a new bottling plant in the United States. b. Delta sells one of its existing airplanes to Korean Air. c. ...
... Tackle the Test: Free-Response Questions (answer on loose leaf). 1. Will each of the following transactions be included in GDP for the United States? Explain why or why not. a. Coca-Cola builds a new bottling plant in the United States. b. Delta sells one of its existing airplanes to Korean Air. c. ...
Inflationary and Recessionary Gaps
... 1. Economy is producing < FE; Actual GDP < Potential GDP 2. # of unemployed > # of job openings The economy needs help from the government! 3. Increase G, Increase TP, decrease T, or increase MS to increase AD. 4. PL ? GDP? U? Equilibrium is restored but what happens to inflation? ...
... 1. Economy is producing < FE; Actual GDP < Potential GDP 2. # of unemployed > # of job openings The economy needs help from the government! 3. Increase G, Increase TP, decrease T, or increase MS to increase AD. 4. PL ? GDP? U? Equilibrium is restored but what happens to inflation? ...
Name Worksheet K 2-2 AP Macro – Nominal v Real GDP Practice 1
... b. Brianna Wilbur autographs a Price Chopper Advantage card and sells it for $35,000 to Elyse Muder c. Mary Magdalene Tehan buys an existing share of Disney stock d. Duffy Lemire builds 17 miniature dioramas of wigwams and sells them to a collector in Estonia e. Whilst travelling through the jungles ...
... b. Brianna Wilbur autographs a Price Chopper Advantage card and sells it for $35,000 to Elyse Muder c. Mary Magdalene Tehan buys an existing share of Disney stock d. Duffy Lemire builds 17 miniature dioramas of wigwams and sells them to a collector in Estonia e. Whilst travelling through the jungles ...
Quiz
... ____ 10. If the prices of all goods and services produced in the economy rose while the quantity of all goods and services stayed the same, which would rise? a. both real GDP and nominal GDP b. real GDP but not nominal GDP c. nominal GDP but not real GDP d. neither nominal GDP nor real GDP ____ 11. ...
... ____ 10. If the prices of all goods and services produced in the economy rose while the quantity of all goods and services stayed the same, which would rise? a. both real GDP and nominal GDP b. real GDP but not nominal GDP c. nominal GDP but not real GDP d. neither nominal GDP nor real GDP ____ 11. ...
National Income Accounting Essentials
... All of the output that domestic firms produce will be purchased by 4 groups: households, firms, the government, and foreign citizens. ...
... All of the output that domestic firms produce will be purchased by 4 groups: households, firms, the government, and foreign citizens. ...
ECN 111 PRINCIPLES OF MACROECONOMICS HOMEWORK 2
... 10 (111 William Smith Hall; 11:30 – 12:45 PM) 11 (113 William Smith Hall; 1:00 – 2:15 PM) ...
... 10 (111 William Smith Hall; 11:30 – 12:45 PM) 11 (113 William Smith Hall; 1:00 – 2:15 PM) ...
Real GDP pulls back in February QUEBEC
... I mportant: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way w ...
... I mportant: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way w ...
Brazil Basic Timeline Second Republic and Democratic Interlude
... and aluminum. Brazil has 14% of the world's renewable fresh water. Agriculture (5.8% of GDP): Products--coffee, soybeans, sugarcane, cocoa, rice, livestock, corn, oranges, cotton, wheat, and tobacco. Industry (28.7% of GDP): Types--steel, commercial aircraft, chemicals, petrochemicals, footwear, mac ...
... and aluminum. Brazil has 14% of the world's renewable fresh water. Agriculture (5.8% of GDP): Products--coffee, soybeans, sugarcane, cocoa, rice, livestock, corn, oranges, cotton, wheat, and tobacco. Industry (28.7% of GDP): Types--steel, commercial aircraft, chemicals, petrochemicals, footwear, mac ...
Economic growth
... • GDP is also the most common measure of an economy’s total output. • Economic growth is sustained increases in the real GDP of an economy over a long period of time. • Economic growth rate is the annual percentage change of real GDP. ...
... • GDP is also the most common measure of an economy’s total output. • Economic growth is sustained increases in the real GDP of an economy over a long period of time. • Economic growth rate is the annual percentage change of real GDP. ...
Measuring development - uwcmaastricht-econ
... lead a long, healthy creative life and to enjoy a decent standard of living, freedom, dignity, self-esteem and the respect of others. ...
... lead a long, healthy creative life and to enjoy a decent standard of living, freedom, dignity, self-esteem and the respect of others. ...
Hastings2-Overviewof..
... to determine “constant” or “real” values. • “Constant” is outdated; government now used “Chained” – Concept is the same, adjust for inflation; methodology is different. – http://en.wikipedia.org/wiki/Chained_dollars ...
... to determine “constant” or “real” values. • “Constant” is outdated; government now used “Chained” – Concept is the same, adjust for inflation; methodology is different. – http://en.wikipedia.org/wiki/Chained_dollars ...
Chris Lovelace
... Inherited good infrastructure and a welleducated population (although deteriorated) ...
... Inherited good infrastructure and a welleducated population (although deteriorated) ...
Open - The Scottish Government
... ‘Baskets’ of composite indicators •Problem of ‘hidden’ or ‘cancelling’ effects •Argument – not appropriate to integrate economic, well-being and environmental sustainability? •Role of composite – to simplify and aid communication and ...
... ‘Baskets’ of composite indicators •Problem of ‘hidden’ or ‘cancelling’ effects •Argument – not appropriate to integrate economic, well-being and environmental sustainability? •Role of composite – to simplify and aid communication and ...
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.