Output+and+Prices+-+F11

Output+and+Prices+-+F11 - Output and Prices Output Eco 301...

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Output and Prices Output and Prices Eco 301 - Fall 2011 Nick Noble Output and Prices 1
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Outline Outline Money Supply Definitions, data, growth rate Real GDP (growth) Definitions, Data, and growth Prices Definitions – GDPD, CPI, PCED, Data, growth (inflation) Velocity and the Fed Eco 301 - Fall 2011 Nick Noble Output and Prices 2
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Output Output Real Gross Domestic Product Real Gross Domestic Product Gross Domestic Product Nominal GDP Market value of final goods and services produced in the U.S. in one year . Data Eco 301 - Fall 2011 Nick Noble Output and Prices 3 it it t Q P GDP =
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GDP Calculations GDP Calculations Eco 301 - Fall 2011 Nick Noble Output and Prices 4 Price Quantity P x Q $5 30 $150 $3 40 $120 $10 25 $250 Total $520
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GDP and Output GDP and Output One Good World *Or use 9.17 Eco 301 - Fall 2011 Nick Noble Output and Prices 5 Year Price Quantity GDP 1 $10 10 $100 2a $10 11 $110 2b $11 10 $110 2c $12 9* $108
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Real GDP Base Year Prices Current base year 2005 Real GDP = market value (using base year prices) of final goods and services produce in the U S in one year. Eco 301 - Fall 2011
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Output+and+Prices+-+F11 - Output and Prices Output Eco 301...

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