Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and...
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Transcript of Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and...
![Page 1: Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.](https://reader035.fdocuments.net/reader035/viewer/2022062301/56649ef45503460f94c06c51/html5/thumbnails/1.jpg)
ModuleInterpretingReal GrossDomestic Product
KRUGMAN'SMACROECONOMICS for AP*
11
Margaret Ray and David Anderson
![Page 2: Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.](https://reader035.fdocuments.net/reader035/viewer/2022062301/56649ef45503460f94c06c51/html5/thumbnails/2.jpg)
What you will learnWhat you will learn
in thisin this ModuleModule::
• The difference between real GDP and nominal GDP
• Why real GDP is the appropriate measure of real economic activity
![Page 3: Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.](https://reader035.fdocuments.net/reader035/viewer/2022062301/56649ef45503460f94c06c51/html5/thumbnails/3.jpg)
What GDP Tells UsWhat GDP Tells Us
• Economic Size
• Comparison
Relative size of country indicates relative size of Gross Domestic Product
![Page 4: Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.](https://reader035.fdocuments.net/reader035/viewer/2022062301/56649ef45503460f94c06c51/html5/thumbnails/4.jpg)
• Inflation’s effect on GDP
• Aggregate Output
Real GDP: A Measure of Real GDP: A Measure of Aggergate OutputAggergate Output
![Page 5: Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.](https://reader035.fdocuments.net/reader035/viewer/2022062301/56649ef45503460f94c06c51/html5/thumbnails/5.jpg)
Calculating Real GDPCalculating Real GDP
![Page 6: Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.](https://reader035.fdocuments.net/reader035/viewer/2022062301/56649ef45503460f94c06c51/html5/thumbnails/6.jpg)
What Real GDP Doesn’t What Real GDP Doesn’t MeasureMeasure
• Real GDP v. GDP per capita
• Living Standards
• Limitations of Real GDP per capita