assign4 - 1 Intro Macro N. Sheflin Assignment 4 NOTES: A...

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1 I n t r o M a c r o N . S h e f l i n Assignment 4 NOTES : A look at how GDP is defined and calculated; circular flow; financial flows; real and nominal gdp – deflating; international comparisons. A mention of value-added and value-added taxes. Due before class on Monday 2/8. Register your clicker on iclicker.com using netid (NOT student number). If not sure if you did it, do it again. Your clicker points in Sakai WILL NOT be automatically updated – they will not change until I do a manual update every week or two. We begin the investment game with preliminaries – print the round 0 handout in resources in sakai, register with marketwatch ,and do some of the reading for next week. KEY POINTS Circular Flow Overview of national income and product accounts (NIPA) Key concepts in GDP and its calculation o Gross and net investment and depreciation o Expenditure and income approaches o Value added approach Nominal versus real GDP – measuring expenditures versus real production o Base year price and chain weighted output index
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assign4 - 1 Intro Macro N. Sheflin Assignment 4 NOTES: A...

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