module interpreting real gross domestic product krugman's macroeconomics for ap* 11 margaret...
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ModuleInterpretingReal GrossDomestic Product
KRUGMAN'SMACROECONOMICS for AP*
11
Margaret Ray and David Anderson
What you will learnWhat you will learn
in thisin this ModuleModule::
• The difference between real GDP and nominal GDP
• Why real GDP is the appropriate measure of real economic activity
What GDP Tells UsWhat GDP Tells Us
• Economic Size
• Comparison
Relative size of country indicates relative size of Gross Domestic Product
• Inflation’s effect on GDP
• Aggregate Output
Real GDP: A Measure of Real GDP: A Measure of Aggergate OutputAggergate Output
Calculating Real GDPCalculating Real GDP
What Real GDP Doesn’t What Real GDP Doesn’t MeasureMeasure
• Real GDP v. GDP per capita
• Living Standards
• Limitations of Real GDP per capita
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