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# 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