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Macro 4
This document discusses macroeconomics and key economic concepts. It provides background on China's shift from Mao Zedong to Deng Xiaoping's new worldview in 1978 that embraced market reforms. It then defines important macroeconomic terms including GDP, GDP per capita, market value, goods and services, percentage change, and how GDP is calculated by totaling consumption, investment, government spending, and net exports. GDP and GDP per capita statistics are given for the global economy and for the United States and China.
Macro 4
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- 7. 197 8 China Changed Worldview DengXiaoping Mao Zedong 197 6 Dies
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- 9. $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 2 4 68 10 12 14 16 18 20 Supply Demand
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- 12. GD P Gross Domestic Product Themarket value of all final goods and services produced in a country in a given time
- 13. GDP How much stuffa country makes
- 14. GDP per Capita GDP perPerso n Average GDP
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- 17. MarketValue One Apple plu s OneOrang e = Three Dollars
- 18. All Everything except... Stuff youdon’t sell
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- 23. Produced New Stuf f Does notinclude the sale of used goods
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- 25. In a givenperiod of time Year Y/ Y Quarter Q/ Q Annualized: Q x 4
- 26. Percentag e Change new number -old numbe r old number
- 27. ThisYear - LastYea r LastYear ThisYear= 7 5 LastYear = 6 0 Percentage Change?
- 28. 75 - 6 0 60 15 60 .25or 25%
- 29. How do you calculate GDP?
- 30. GDP = C =Consumptio n I = Investmen t G = Governmen t X = Export s M = Import s
- 31. GDP = C +I + G + (X - M)
- 32. Consumption Spending by households on goodsand services, except new housing
- 33. Investment Spending on capital equipment,inventories, and structures, including new housing
- 34. Government Spending on goods andservices from local, state, and federal governments.
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- 36. Net Exports Foreigners buying exportsminus domestic residents buying foreign goods
- 37. What is GDP? C= 10 5 I = 4 0 G = 2 5 X = 3 0 M = 2 0
- 38. GDP = C +I + G + (X - M ) = 105 + 40 + 25 +(30-20 ) = 105 + 40 + 25 +1 0 = 18 0
- 39. GDP GDP perCapita
- 40. GDP $94 trillion Population7.8 billion GDP Per Capita $12,053 GDP Per Day $33
- 42. GDP $23 trillion Population330 million GDP Per Capita $69,697 United States Per Day $190
- 43. GDP $17 trillion Population1.4 billion GDP Per Capita $12,142 Per Day $33 China
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