🗊Презентация Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator

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Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №1Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №2Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №3Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №4Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №5Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №6Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №7Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №8Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №9Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №10Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №11Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №12Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №13Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №14Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №15Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №16Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №17Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №18Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №19Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №20Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №21Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №22Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №23Calculating GDP. Nominal GDP, Real GDP and the GDP Deflator, слайд №24
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Слайды и текст этой презентации

Слайд 1


Calculating GDP Nominal GDP, Real GDP, and the GDP Deflator
Описание слайда:
Calculating GDP Nominal GDP, Real GDP, and the GDP Deflator

Слайд 2


There are two ways that GDP can increase: An increase in the PRICES of goods and services. An increase in the QUANTITY of goods and services. We need a method to calculate GDP that addresses rising prices
Описание слайда:
There are two ways that GDP can increase: An increase in the PRICES of goods and services. An increase in the QUANTITY of goods and services. We need a method to calculate GDP that addresses rising prices

Слайд 3


Our Simple Economy Suppose an economy produces three goods or services, Window Washing, Baseballs, and Hammers. Data for the past three years can be found below.
Описание слайда:
Our Simple Economy Suppose an economy produces three goods or services, Window Washing, Baseballs, and Hammers. Data for the past three years can be found below.

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Prices and Quantities for our Simple Economy
Описание слайда:
Prices and Quantities for our Simple Economy

Слайд 5


Nominal GDP Step 1: Calculate Nominal GDP (The value of final goods and services evaluated at current-year prices) for each year: NGDP2006 = Q2006 x P2006 = (90 x $50.00) Window Washing + (75 x $2.00) Baseballs + (50 x $30.00) Hammers = $6,150
Описание слайда:
Nominal GDP Step 1: Calculate Nominal GDP (The value of final goods and services evaluated at current-year prices) for each year: NGDP2006 = Q2006 x P2006 = (90 x $50.00) Window Washing + (75 x $2.00) Baseballs + (50 x $30.00) Hammers = $6,150

Слайд 6


Nominal GDP 2007 NGDP2007 = Q2007 x P2007 = (100 x $60.00) Window Washing + (100 x $2.00) Baseballs + (50 x $25.00) Hammers = $7,450
Описание слайда:
Nominal GDP 2007 NGDP2007 = Q2007 x P2007 = (100 x $60.00) Window Washing + (100 x $2.00) Baseballs + (50 x $25.00) Hammers = $7,450

Слайд 7


Nominal GDP 2008 NGDP2008 = Q2008 x P2008 = (100 x $65.00) Window Washing + (120 x $2.25) Baseballs + (65 x $25.00) Hammers = $8,395
Описание слайда:
Nominal GDP 2008 NGDP2008 = Q2008 x P2008 = (100 x $65.00) Window Washing + (120 x $2.25) Baseballs + (65 x $25.00) Hammers = $8,395

Слайд 8


Real GDP Step 2: Calculate Real GDP (The value of final goods and services evaluated at base-year prices) for each year. For our example assume 2006 is the base year. This means that all values are in what we call “2006 Dollars”, or “Constant Dollars”.
Описание слайда:
Real GDP Step 2: Calculate Real GDP (The value of final goods and services evaluated at base-year prices) for each year. For our example assume 2006 is the base year. This means that all values are in what we call “2006 Dollars”, or “Constant Dollars”.

Слайд 9


Real GDP By using the prices from the base-year, (or holding prices constant over time), we eliminate the impact that rising prices have on GDP, to get a measure of “Real” economic activity.
Описание слайда:
Real GDP By using the prices from the base-year, (or holding prices constant over time), we eliminate the impact that rising prices have on GDP, to get a measure of “Real” economic activity.

Слайд 10


Real GDP in 2006 RGDP2006 = Q2006 x P2006 = (90 x $50.00) Window Washing + (75 x $2.00) Baseballs + (50 x $30.00) Hammers = $6,150 Note: For the Base-Year Nominal GDP always equals Real GDP
Описание слайда:
Real GDP in 2006 RGDP2006 = Q2006 x P2006 = (90 x $50.00) Window Washing + (75 x $2.00) Baseballs + (50 x $30.00) Hammers = $6,150 Note: For the Base-Year Nominal GDP always equals Real GDP

Слайд 11


Real GDP in 2007 RGDP2007 = Q2007 x P2006 = (100 x $50.00) Window Washing + (100 x $2.00) Baseballs + (50 x $30.00) Hammers = $6,700 Note: We use “Current Quantities” and “Constant Prices”.
Описание слайда:
Real GDP in 2007 RGDP2007 = Q2007 x P2006 = (100 x $50.00) Window Washing + (100 x $2.00) Baseballs + (50 x $30.00) Hammers = $6,700 Note: We use “Current Quantities” and “Constant Prices”.

Слайд 12


Real GDP in 2008 RGDP2008 = Q2008 x P2006 = (100 x $50.00) Window Washing + (120 x $2.00) Baseballs + (65 x $30.00) Hammers = $7,190 Note: We still use “Current Quantities” and “Constant Prices”.
Описание слайда:
Real GDP in 2008 RGDP2008 = Q2008 x P2006 = (100 x $50.00) Window Washing + (120 x $2.00) Baseballs + (65 x $30.00) Hammers = $7,190 Note: We still use “Current Quantities” and “Constant Prices”.

Слайд 13


The General Formula for Calculating a Growth Rate
Описание слайда:
The General Formula for Calculating a Growth Rate

Слайд 14


Calculate the Growth Rate in Real GDP between 2006 and 2007 %Change = [(RGDP2007 – RGDP2006)/RGDP2006] x 100 %Change = [(6,700 – 6,150)/6,150] x 100 %Change = 8.94% That is real GDP grew by 8.94% between 2006 and 2007.
Описание слайда:
Calculate the Growth Rate in Real GDP between 2006 and 2007 %Change = [(RGDP2007 – RGDP2006)/RGDP2006] x 100 %Change = [(6,700 – 6,150)/6,150] x 100 %Change = 8.94% That is real GDP grew by 8.94% between 2006 and 2007.

Слайд 15


Calculate the Growth Rate in Real GDP between 2007 and 2008 %Change = [(RGDP2008 – RGDP2007)/RGDP2007] x 100 %Change = [(7,190 – 6,700)/6,700] x 100 %Change = 7.31% That is real GDP grew by 7.31% between 2007 and 2008.
Описание слайда:
Calculate the Growth Rate in Real GDP between 2007 and 2008 %Change = [(RGDP2008 – RGDP2007)/RGDP2007] x 100 %Change = [(7,190 – 6,700)/6,700] x 100 %Change = 7.31% That is real GDP grew by 7.31% between 2007 and 2008.

Слайд 16


The Price Level We can use our calculations of Nominal GDP and Real GDP to calculate the Price Level (A measure of the average prices of goods and services in the economy.)
Описание слайда:
The Price Level We can use our calculations of Nominal GDP and Real GDP to calculate the Price Level (A measure of the average prices of goods and services in the economy.)

Слайд 17


The GDP Deflator One example of a measure of the average price level is the GDP deflator.
Описание слайда:
The GDP Deflator One example of a measure of the average price level is the GDP deflator.

Слайд 18


Calculate the GDP Deflator for 2006 GDP Deflator2006 = (NGDP2006/RGDP2006) x 100 GDP Deflator2006 = (6,150/6,150) x 100 = 100 Note: The GDP Deflator is always equal to 100 in the base-year. The Price Index is “unitless”
Описание слайда:
Calculate the GDP Deflator for 2006 GDP Deflator2006 = (NGDP2006/RGDP2006) x 100 GDP Deflator2006 = (6,150/6,150) x 100 = 100 Note: The GDP Deflator is always equal to 100 in the base-year. The Price Index is “unitless”

Слайд 19


Calculate the GDP Deflator for 2007 and 2008 GDP Deflator2007 = (NGDP2007/RGDP2007) x 100 GDP Deflator2007 = (7,450/6,700) x 100 = 111.19 GDP Deflator2008 = (NGDP2008/RGDP2008) x 100 GDP Deflator2008 = (8,395/7,190) x 100 = 116.76
Описание слайда:
Calculate the GDP Deflator for 2007 and 2008 GDP Deflator2007 = (NGDP2007/RGDP2007) x 100 GDP Deflator2007 = (7,450/6,700) x 100 = 111.19 GDP Deflator2008 = (NGDP2008/RGDP2008) x 100 GDP Deflator2008 = (8,395/7,190) x 100 = 116.76

Слайд 20


The Inflation Rate We can use the growth rate formula from previous to calculate the Inflation Rate (the Inflation Rate is The percentage increase in the price level from one year to the next.)
Описание слайда:
The Inflation Rate We can use the growth rate formula from previous to calculate the Inflation Rate (the Inflation Rate is The percentage increase in the price level from one year to the next.)

Слайд 21


Calculate the Inflation Rate from 2006 to 2007 Inflation Rate Between 2006 and 2007 = [(GDP Def.2007 – GDP Def.2006)/GDP Def.2006] x 100 Inflation Rate Between 2006 and 2007 = [(111.19 – 100)/100] x 100 = 11.19 That is the inflation rate between 2006 and 2007 was 11.19%.
Описание слайда:
Calculate the Inflation Rate from 2006 to 2007 Inflation Rate Between 2006 and 2007 = [(GDP Def.2007 – GDP Def.2006)/GDP Def.2006] x 100 Inflation Rate Between 2006 and 2007 = [(111.19 – 100)/100] x 100 = 11.19 That is the inflation rate between 2006 and 2007 was 11.19%.

Слайд 22


Calculate the Inflation Rate from 2007 to 2008 Inflation Rate Between 2007 and 2008 = [(GDP Def.2008 – GDP Def.2007)/GDP Def.2007] x 100 Inflation Rate Between 2007 and 2008 = [(116.76 – 111.19)/111.19] x 100 = 5.01 That is the inflation rate between 2007 and 2008 was 5.01%.
Описание слайда:
Calculate the Inflation Rate from 2007 to 2008 Inflation Rate Between 2007 and 2008 = [(GDP Def.2008 – GDP Def.2007)/GDP Def.2007] x 100 Inflation Rate Between 2007 and 2008 = [(116.76 – 111.19)/111.19] x 100 = 5.01 That is the inflation rate between 2007 and 2008 was 5.01%.

Слайд 23


Nominal GDP in the U.S. 1947 to 2008
Описание слайда:
Nominal GDP in the U.S. 1947 to 2008

Слайд 24


Real GDP in the U.S. 1929 to 2008
Описание слайда:
Real GDP in the U.S. 1929 to 2008

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