ch_19-1 - Economics 001, Summer 2008, Lehigh University...

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Unformatted text preview: Economics 001, Summer 2008, Lehigh University Introduction to Macroeconomics – Chapter 19 Economics 001, Summer 2008, Lehigh University Introduction to Macroeconomics – Chapter 19 Macroeconomics The study of the economy as a whole, including topics such as inflation, unemployment, and economic growth. Macroeconomic Policy • Low Inflation • High Employment • Control External Balance • High Growth What is Macroeconomics? Economics 001, Summer 2008, Lehigh University Introduction to Macroeconomics – Chapter 19 Gross Domestic Product Measures Total Production Measuring Total Production: Gross Domestic Product Gross domestic product ( GDP ) The market value of all final goods and services produced in a country during a period of time. Economics 001, Summer 2008, Lehigh University Introduction to Macroeconomics – Chapter 19 Gross domestic product ( GDP ) 1.The market value of all 2. final goods and services produced 3. in a country 4. during a period of time Economics 001, Summer 2008, Lehigh University Introduction to Macroeconomics – Chapter 19 Gross domestic product ( GDP ) 1.The market value of all 2. final goods and services produced 3. in a country 4. during a period of time Economics 001, Summer 2008, Lehigh University Introduction to Macroeconomics – Chapter 19 Gross domestic product (...
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This note was uploaded on 10/13/2011 for the course IE 111 taught by Professor Storer during the Fall '07 term at Lehigh University .

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ch_19-1 - Economics 001, Summer 2008, Lehigh University...

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