Lecture_2

Lecture_2 - Lecture 2 Principles of Macroeconomics Measurement Winter 2009 Question I have been able to log on to the GauchoSpace site A TRUE B

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Lecture 2 Principles of Macroeconomics Measurement Winter, 2009
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Question I have been able to log on to the GauchoSpace site. A) TRUE B) FALSE
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Question I am receiving emails that you sent through the GauchoSpace site. A) TRUE B) FALSE
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Iclicker If you have already used the Iclicker to answer questions go to: www.iclicker.com/registration And follow the instructions
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Tracking the Economy Very interesting time to be studying Macro Bernanke is fairly new Credit market turmoil Economy is in a recession
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Tracking the Economy Analysts look at lots of data to see where the economy is and where it may be heading.
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Tracking the Economy
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Tracking the Economy The unemployment rate as of February, 2008 was: A) 7.1% B) 8.9% C) 4.8% D) 5.5% E) 6.2%
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Tracking the Economy The unemployment rate as of February, 2008 was: A) 7.1
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Tracking the Economy
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Tracking the Economy
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Tracking the Economy
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Measurement So far, lots of terms GDP: Real and Nominal Unemployment and Employment Economics is built on Measurement Theory
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THE GENERALLY AGREED UPON MEASURE OF ECONOMIC SUCCESS IS GDP
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GDP Real GDP is currently about: A) $100 billion B) $900 billion C) $ 2 trillion D) $ 5 trillion E) $12 trillion
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Trick Question (Sort of) What does REAL mean? • Recall, it means getting rid of changes in the price level • i.e., removing inflation So, the question should have said: • What is real GDP measured using a chained index for the year 2000
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GDP Real GDP is currently about: About 300 million persons X almost $40,000 real per capita income E) about $12 trillion
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GROSS DOMESTIC PRODUCT Gross Domestic Product is a measure of the value of all final goods and services newly produced within a specified country’s borders during a specified period of time (usually one year or one quarter).
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GROSS DOMESTIC PRODUCT Gross Domestic Product is a measure of the value of all final goods and services newly produced within a specified country’s borders during a specified period of time (usually one year or one quarter).
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GROSS DOMESTIC PRODUCT Gross Domestic Product is a measure of the value of all final goods and services newly produced within a specified country’s borders during a specified period of time (usually one year or one quarter).
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GROSS DOMESTIC PRODUCT Gross Domestic Product is a measure of the value of all final goods and services newly produced within a specified country’s borders during a specified period of time (usually one year or one quarter).
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GROSS DOMESTIC PRODUCT Gross Domestic Product is a measure of the value of all final goods and services newly produced within a specified country’s borders during a specified period of time (usually one year or one quarter).
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GROSS DOMESTIC PRODUCT Gross Domestic Product is a measure of the value of all final goods and services newly produced within a specified country’s borders during a specified period of time (usually one year or one quarter).
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This note was uploaded on 01/29/2010 for the course ECON 3A taught by Professor Loster during the Summer '07 term at UCSB.

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Lecture_2 - Lecture 2 Principles of Macroeconomics Measurement Winter 2009 Question I have been able to log on to the GauchoSpace site A TRUE B

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