Lecture 9

Lecture 9 - GDP deflated = nominal/real Problems with GDP...

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1. Macro Measure 2. Nominal vs real 3. Welfare measure 4. Problems with GDP 5. Growth 6. U 7. Inflation 8. Macro Theory 2. Nominal vs real NI = NNP + Stat. disc PI = NI – retained π , if Base = Yr1, y1 = Y1, if Base = Yr2, y2 = Y2 DI = Chain link method – take the avg
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Unformatted text preview: GDP deflated = nominal/real Problems with GDP – does not capture: 1. Social safety, fairness 2. Non Market good - black Friday 3. Externalities Per capita – gdp/population...
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This note was uploaded on 07/05/2011 for the course ECON 1 taught by Professor Nagata during the Spring '08 term at UCLA.

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