Economic Indicators. Gross Domestic Product GDP per Capita.

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Presentation transcript:

Economic Indicators

Gross Domestic Product

GDP per Capita

Gross National Product

What is not calculated in the GDP

Real v. Nominal Wages + REAL = NOMINAL= Base Year

Real and Nominal Interest Rates Real: Accounts 4 Inflation rate Nominal: Rate not adjusted 4 inflation

Real and Nominal GDP

GDP Deflator w/ 100 Nominal Real Indicator of

CPI = Consumers Price Index

Market Basket: items used to track inflation

Inflation rate increase in price level of goods / services

THE COSTS OF INFLATION

Deflation

Unemployment Rate (looking but can’t find work)

Labor Force Participation Rate % of population older

Discouraged Workers

The Underemployed

Structural Unemployment

Cyclical Unemployment Low points/ fluctuations in cycle = cyclical unemployment

THE NATURAL RATE OF UNEMPLOYMENT …normal rate of employment which fluctuates… Includes…

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