Real vs nominal gdp

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Real vs nominal gdp

  1. 1. Secret auction
  2. 2. Let’s double the money supply
  3. 3. Candy auction
  4. 4. Grading schemes you have seen here at Pueblo? Klein – base 10, X/10, exams: X/42  Crane ? NOMINAL  Santa Cruz?  Ayala? DIFFERENCE?  Wallace?  Science? 
  5. 5. REAL VS. NOMINAL CHANGE  Nominal GDP : change in numbers usually a %  “Raw data” Real GDP : Change after inflation  Real = Nominal – Inflation rate  Real interest change  Real income changes 
  6. 6. Lets practice Nominal GDP grew by 10%, WOW!  CPI: 7.9% Real GDP = ???  Nominal Raise: 3%, YEAH!!!!!  CPI: 3.2%  Interest Rate on fixed rate mortgage: 4 %  CPI: 2.3 % 
  7. 7. GDP Deflator Nominal GDP Real GDP X 100 = ___________ %
  8. 8. Mankiw Review OR WORKSHEET  Page 510 #1, 2, 4, your choice: 5 or 6

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