02-class notes

02-class notes - Comm. 394: Government and Business TODAY...

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1 Comm. 394: Government and Business TODAY – Class 2 • Productivity in Canada – Howland, “Canadians should care about labour productivity” – Brander(7) • Basic Economic Concepts: – Brander (2) • Photo - P. C. Lab, room MSRC (Math-Stats Resource Centre. – Agricultural road opposite LSK – Worth 1 mark if done on or before Wednesday Sept. 23 (class 7) Comm 394: Barbara Spencer – ½ a mark if after Sept 23 but before Wed Oct 14 (the class prior to the mid-term exam) Next class – class 3 • Finish Basic Economic Concepts:- Brander (2) Brander (2), • Philosophical foundations (3, pp 23-30) • Brander (6; pp 133-138- rule of law) Comm 394: Barbara Spencer
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2 Measures of aggregate income Gross Domestic Product (GDP) : Total value of goods and services produced within the economy - Real GDP corrects for inflation. Gross National Income (GNI) : value of goods and services produced both within the economy and abroad by factors of production owned by domestic residents. Comm 394: Barbara Spencer GNI used to be called GNP – GNI = GDP less income earned by foreigners (mostly from imports) plus foreign earnings of domestic
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This note was uploaded on 02/14/2010 for the course COMM 296 taught by Professor Dasgupta during the Fall '08 term at UBC.

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02-class notes - Comm. 394: Government and Business TODAY...

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