Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.

Slides:

Advertisements

Similar presentations

Africa at a glance: Penetration of ICTs The reach of popular ICTs The most connected countries.

Advertisements

Physical Features of Africa

GEOG 298 Geography of the News SYS (Speaking Intensive) Samples of slides and images, what type of information to consider…

The Political Geography of AIDS

AP Economics Mr. Bernstein Module 11: Interpreting Real Gross Domestic Product January 22, 2015.

Doing Business in The East African Community 2012 Bujumbura, Burundi April 11, 2012 Alfred Ombudo K’Ombudo Coordinator, EAC Investment Climate Program.

Introduction to Africa. Create a chart like the one below – 6 Columns, 7 Rows Subregions Countries GDP Per Capita Life Expectancy Infant Mortality Economic.

By: Lucas P. & Leo Savoy. What is Human Development Index  Indicator that measures the overall development of a nation; Life expectancy at birth, longevity,

November 8th, 2013 A Business Plan for Africa Breakaway Sessions 4: Execution plan by regional clusters Session 3: Central Africa.

Poverty & Human Capability 101 Introductory Class.

CONNECT - What does this table reveal about the 50 LDCs?

Africa and the Global Economic and Financial Crisis Shanta Devarajan World Bank

Global thematic comparison

Disclaimer Median Real Income, Sub- Saharan Africa.

November 8th, 2013 A Business Plan for Africa Breakaway Sessions 4: Execution plan by regional clusters Session 1: West Africa.

AFRICAN ECONOMIC DEVELOPMENT: AN OVERVIEW By Prof. Augustin K. Fosu Visiting Professor of Economics, Aalto University, Helsinki, FINLAND African Economic.

+ Please Note: These slides are meant to help students think about the material. They are not meant to replace reading the material or taking notes. Using.

Understanding the Korean Miracle E. Young Song Sogang University Summer, 2011.

1 ECONOMICS 3150B Fall 2015 Professor Lazar Office: N205J, Schulich

The Human Development Index What is it? 3. Knowledge (Literacy Rate, enrolment rates in school, etc.) - A yearly comparison of the development of nations.

Splash Screen Contents Africa South of the Sahara Physical Political Gems and Minerals Fast Facts Country Profiles Click on a hyperlink to view the corresponding.

The Problems of Measuring Development Aims: To look at types of measurement To evaluate the differences To get a sense of policy differentiation To be.

Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.

DEVELOPMENT Development implies progress. In today’s world, this implies progress is being made in technology, production, and socioeconomic welfare (quality.

Interpreting Real Gross Domestic Product

Module 11 Mar  Aggregate output is the total quantity of final goods and services produced within an economy  Real GDP – the total value of all.

Module Productivity and Growth KRUGMAN'S MACROECONOMICS for AP* 38 Margaret Ray and David Anderson.

Africa Algeria - Mauritania. Algiers Algeria Angola.

Module The Measurement and Calculation of Inflation KRUGMAN'S MACROECONOMICS for AP* 15 Margaret Ray and David Anderson.

Levels of Economic Development Levels of economic development are measured in goods and services available in a country.

First Impressions World Cultures Introduction to a Global World.

+ The Internet and Current Issues Thomas Johnson and James Prow.

Computer Class – Summer 20091/8/ :32 PM African Countries Algeria Angola Benin Botswana Burkina Faso Burundi Cameroon Cape Verde Central African.

MEASUREMENT OF WEALTH.  1. The GDP can also be known as the Gross Domestic Income per Capita.  2. It can be measured in many different ways.  3. The.

GeoCurrents Customizable

The United States The Economy. What is GDP ? Gross Domestic Product (GDP): The total market (or dollar) value of all final goods and services produced.

How can economic well-being and the quality of life be measured?

Level of development and Human Development Index.

IT and HD. HDI Definition of 'Human Development Index - HDI‘ A tool developed by the United Nations to measure and rank countries' levels of social and.

Levels of Economic Development Levels of economic development are measured in goods and services available in a country.

Module Money, Output, and Prices in the Long Run

Click to edit Master title style Doing Business 2009.

Module Introduction to Macroeconomics KRUGMAN'S MACROECONOMICS for AP* 2 Margaret Ray and David Anderson.

Africa Intro and Climate February What do these 29 countries have in common? Sierra Leone Central African Republic Democratic Republic of the Congo.

COMPARATIVE POVERTY PROGRESS IN AFRICA, AND CHANGES IN (P.C.) GDP, INCOME, AND INEQUALITY BY COUNTRY African Economic Development, Lecture 2 10 th May.

Module Long-run Economic Growth KRUGMAN'S MACROECONOMICS for AP* 37 Margaret Ray and David Anderson.

Growing Economies 4.1 Globalisation.

Module Interpreting Real Gross Domestic Product

ECONOMIC GEOGRAPHY VOCABULARY

The Circular Flow and Gross Domestic Product and Interpreting Real Gross Domestic Product Lesson 23 Sections 10, 11.

How Canada Compares Internationally

Section 3 Module 11.

Unit III A World of Inequality MEXICO UNITED STATES.

Africa Map Review Directions: Use the cursor or mouse button to advance the review. A country will be highlighted. Try to identify the country. The.

Transparency International annually produce their index on Corruption Perceptions. The report ranks over 160 countries according to the level of perceived.

United Arab Emirates**

Match the answers to the questions

Measurement of Economic Performance

Module Interpreting Real Gross Domestic Product

Module Interpreting Real Gross Domestic Product

FRANCOPHONE COUNTRIES

Human Development Index

Fifty Years of Economic Growth in Sub-Saharan Africa

Strand 2 Global citizenship PPT 09: Poverty.

Module Interpreting Real Gross Domestic Product

Module The Production Possibilities Curve Model

Countries of Africa.

2006 Rank Adjusted for Purchasing Power

Presentation transcript:

Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson

What you will learn in this Module : The difference between real GDP and nominal GDP Why real GDP is the appropriate measure of real economic activity

What GDP Tells Us Economic Size Comparison Relative size of country indicates relative size of Gross Domestic Product

Inflation’s effect on GDP- can overstate value Aggregate Output-year to year comparison w/o inflation indicates “true” growth Real GDP: A Measure of Aggregate Output

Calculating Real GDP

Real World Example YearNominal GDPReal GDP (in 2005 dollars) 2001$10,286$11, $12, $14,259$12,989 Since 2005 is the base year, nominal and real are the same. 2001, real is higher than nominal, indicating prices were higher in ’05 compared to , real is lower than nominal, indicating prices were lower in ‘05 compared to 2009.

UN Development Rankings 2004 The top 15… 1 Norway 2 Sweden 3 Australia 4 Canada 5 Netherlands 6 Belgium 7 Iceland 8 United States 9 Japan 10 Ireland 11 Switzerland 12 United Kingdom 13 Finland 14 Austria 15 Luxembourg The bottom 15… 163 Côte d’Ivoire 164 Zambia 165 Malawi 166 Angola 167 Chad 168 Dem. Rep. of the Congo 169 Central African Republic 170 Ethiopia 171 Mozambique 172 Guinea-Bissau 173 Burundi 174 Mali 175 Burkina Faso 176 Niger 177 Sierra Leone

What Real GDP Doesn’t Measure Real GDP v. GDP per capita Living Standards Limitations of Real GDP per capita Chain linking-averages Real GDP using early and late year bases

Try This Problem WidgetsGizmosThingys YearPrice Qty 2006$100 1$10 8$ $110 1$11 10$4 5 Calculate the nominal GDP for Calculate the nominal GDP for Compute the percentage change in nominal GDP from 2006 to Using 2006 as the base year, calculate the real GDP for Compute the percentage change in real GDP from 2006 to 2007.