202 lecture 2

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202 lecture 2

  1. 1. ECO 202 Macroeconomics
  2. 2. GDP Gross Domestic Product The market value of all final goods and services produced in a country in a given time
  3. 3. GDP Per Capita = GDP Population
  4. 4. GDP Deflator What something would sell for
  5. 5. Market Value One Apple plus One Orange = Three Riyals
  6. 6. All Everything except... Stuff you don’t sell
  7. 7. Final Intermediate Final
  8. 8. Intermediate Final
  9. 9. Goods and Services
  10. 10. Goods Services
  11. 11. Produced New Stuff Does not include the sale of used goods
  12. 12. Within a Country
  13. 13. Only production within Saudi Arabia
  14. 14. In a given period of time Year Y/Y Quarter Q/Q Annualized: Q x 4
  15. 15. Percentage Change new number - old number old number
  16. 16. This Year - Last Year Last Year This Year = 75 Last Year = 60 Percentage Change?
  17. 17. 75 - 60 60 15 60 .25 or 25%
  18. 18. How do you calculate GDP?
  19. 19. GDP = C = Consumption I = Investment G = Government X = Exports M = Imports
  20. 20. GDP = C + I + G + (X - M)
  21. 21. Consumption Spending by households on goods and services, except new housing
  22. 22. Investment Spending on capital equipment, inventories, and structures, including new housing
  23. 23. Government Spending on goods and services from local, state, and federal governments.
  24. 24. Net Exports Exports minus imports
  25. 25. Net Exports Foreigners buying exports minus domestic residents buying foreign goods
  26. 26. What is GDP? C = 105 I = 40 G = 25 X = 30 M= 20
  27. 27. What is GDP? C = 105 I = 40 G = 25 E = 30 I = 20
  28. 28. GDP = C + I + G + (X - M) = 105 + 40 + 25 +(30-20) = 105 + 40 + 25 +10 = 180

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