Chapter 2 1Notes - Period2BusinessBasicsFall2014
... Who thinks they have the most money on them right now? Who is the tallest in here? Who has the highest GPA? ...
... Who thinks they have the most money on them right now? Who is the tallest in here? Who has the highest GPA? ...
Gross Domestic Product & Growth
... I = Gross Investment. This is the total value of all Private business investment on capital goods. ( this does NOT include your investment in an education, or the stock market. It does NOT include Government investment) only private business investment ...
... I = Gross Investment. This is the total value of all Private business investment on capital goods. ( this does NOT include your investment in an education, or the stock market. It does NOT include Government investment) only private business investment ...
9.1
... 7e. Jobs related to the highest-level decision making in all types of organizations (government & corporate). [“gold collar”] ...
... 7e. Jobs related to the highest-level decision making in all types of organizations (government & corporate). [“gold collar”] ...
Measuring the Nation`s Output
... • A growing economy means an expanding economy, one that continues to provide more people with what they want or need. • The nation’s economic growth is the key to a better future for everyone. ...
... • A growing economy means an expanding economy, one that continues to provide more people with what they want or need. • The nation’s economic growth is the key to a better future for everyone. ...
Chapter 2.1Notes
... Cyclical – the entire economy slows down Try finding our current unemployment rate ...
... Cyclical – the entire economy slows down Try finding our current unemployment rate ...
The AD/AS model - Gore High School
... 4. Why might net social welfare be a better measure of economic growth than real GDP Net social welfare includes the value of goods and services being produced as well as non economic factors such as, levels of pollution, education and life expectancy. Real GDP only shows whether more is being produ ...
... 4. Why might net social welfare be a better measure of economic growth than real GDP Net social welfare includes the value of goods and services being produced as well as non economic factors such as, levels of pollution, education and life expectancy. Real GDP only shows whether more is being produ ...
MJMFOODIE YOUTUBE Video Review and Questions Episode 18: Unemployment
... #1. What “high and sustained growth” do we want to see? #2. Define GDP. ...
... #1. What “high and sustained growth” do we want to see? #2. Define GDP. ...
Real vs. Nominal GDP - Continental Economics Institute
... real GDP is the appropriate measure of real economic activity The significance of the unemployment rate and how it moves over the business cycle ...
... real GDP is the appropriate measure of real economic activity The significance of the unemployment rate and how it moves over the business cycle ...
Krugman`s Chapter 24 PPT
... real GDP is the appropriate measure of real economic activity The significance of the unemployment rate and how it moves over the business cycle ...
... real GDP is the appropriate measure of real economic activity The significance of the unemployment rate and how it moves over the business cycle ...
tempe 09 317 KB, Powerpoint Slides Uploaded on 10
... What is a depression? A depression in economics may be somewhat hard to define. A standard definition of an economic depression is a significant decline in the gross domestic product (GDP). In order to understand a depression in these terms, one must understand the definition of a GDP. The GDP consi ...
... What is a depression? A depression in economics may be somewhat hard to define. A standard definition of an economic depression is a significant decline in the gross domestic product (GDP). In order to understand a depression in these terms, one must understand the definition of a GDP. The GDP consi ...
Chapter 20
... products and services produced in a year in a given country. GDP does not reflect externalities such as pollution. ...
... products and services produced in a year in a given country. GDP does not reflect externalities such as pollution. ...
Characteristics of Economic Development
... Starter Get ready to take notes (have a sheet of paper on your desk and a pen/pencil) ...
... Starter Get ready to take notes (have a sheet of paper on your desk and a pen/pencil) ...
Lecture 1: Introduction
... • Non-productive wealth doesn’t make anything • Productive assets can be used to make: – More productive assets (e.g making new machines). We call this investment. – Goods and services for consumption. • Durables, which add to wealth (e.g. furniture) • Non-durables, which are one-off consumption (e. ...
... • Non-productive wealth doesn’t make anything • Productive assets can be used to make: – More productive assets (e.g making new machines). We call this investment. – Goods and services for consumption. • Durables, which add to wealth (e.g. furniture) • Non-durables, which are one-off consumption (e. ...
Stratification
... capitalist countries? Theoretically, stratification is fair if you have: Equal opportunity: Free competition and free ...
... capitalist countries? Theoretically, stratification is fair if you have: Equal opportunity: Free competition and free ...
Economic Growth and Steady State Economics
... All money would be created and spent into existence by a public institution Banks would be prohibited from creating money, but would instead have to borrow existing money to lend it ...
... All money would be created and spent into existence by a public institution Banks would be prohibited from creating money, but would instead have to borrow existing money to lend it ...
GDP vs GNP
... We know that inflation can distort GDP We know how to measure GDP If we use this knowledge we can discover the REAL GDP Chart 13.4 is an example of Nominal GDP because it does not take inflation into consideration ...
... We know that inflation can distort GDP We know how to measure GDP If we use this knowledge we can discover the REAL GDP Chart 13.4 is an example of Nominal GDP because it does not take inflation into consideration ...
Macroeconomics: examines the economy as a whole
... Quality of Life - does not show how goods and services are ______________ (10% of US population in poverty) Other Economic Performance Measures: Gross National Product: market value of all final goods and services produced by a county (GDP = GNP + plus income from goods and services produced by U.S. ...
... Quality of Life - does not show how goods and services are ______________ (10% of US population in poverty) Other Economic Performance Measures: Gross National Product: market value of all final goods and services produced by a county (GDP = GNP + plus income from goods and services produced by U.S. ...
the PowerPoint slides
... indicator of the efficiency of social benefits in alleviating property is the worst in the E.U. (13%, where the EU average is 35% and some Scandinavian countries were as efficient as 70%!). ...
... indicator of the efficiency of social benefits in alleviating property is the worst in the E.U. (13%, where the EU average is 35% and some Scandinavian countries were as efficient as 70%!). ...
ECONOMICS 576
... Macroeconomic Theory and Policy Income Accounting Rough Review The best known and most widely used measure of the nation’s output is Gross Domestic Product (GDP). The following material is offered only as a very basic, elementary review of that account, plus a very general summary of another account ...
... Macroeconomic Theory and Policy Income Accounting Rough Review The best known and most widely used measure of the nation’s output is Gross Domestic Product (GDP). The following material is offered only as a very basic, elementary review of that account, plus a very general summary of another account ...
Chapter 2 1Notes - Period2BusinessBasicsFall2014
... Who thinks they have the most money on them right now? Who is the tallest in here? Who has the highest GPA? ...
... Who thinks they have the most money on them right now? Who is the tallest in here? Who has the highest GPA? ...
Adjusting GDP as a Measure for Economic Growth and Public
... economic bads (i.e pollution) have been accounted for, there’s still the question of whether NDP truly accomplishes the goal of accounting for sustainability for future generations. Another alternative to GDP that is being discussed in ecological economics is the Genuine Progress Indicator (GPI) wh ...
... economic bads (i.e pollution) have been accounted for, there’s still the question of whether NDP truly accomplishes the goal of accounting for sustainability for future generations. Another alternative to GDP that is being discussed in ecological economics is the Genuine Progress Indicator (GPI) wh ...
Income and Spending: The Circular Flow
... GDP = Total Expenditures on Final Goods Four Major Categories of Expenditures (1) Consumption (C) – Household Spending on Goods and Services (2) Investment (I) – Business Spending on Productive Capital Goods (3 ) Government Purchases (G) – Government purchases of goods and services (4) Net Exports ...
... GDP = Total Expenditures on Final Goods Four Major Categories of Expenditures (1) Consumption (C) – Household Spending on Goods and Services (2) Investment (I) – Business Spending on Productive Capital Goods (3 ) Government Purchases (G) – Government purchases of goods and services (4) Net Exports ...
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.