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Macroeconomics Unit I - Measurement of Economic Performance
Click on each chapter's name to visit its wiki page:
Chapter 6 - Measuring Domestic Output, National Income, and the Price Level: In this chapter you will learn...
- How gross domestic product (GDP) is defined and measured.
- The relationships among GDP, net domestic product, national income, personal income, and disposable income.
- The nature and function of a GDP price index.
- The difference between nominal GDP and real GDP.
- Some limitations of the GDP measure.
Chapter 7 - Introduction to Economic Growth and Instability: In this chapter you will learn:
- How economic growth is measured and why it is important.
- About the business cycle and its primary phases.
- How unemployment and inflation are measured.
- About the types of unemployment and inflation and their various economic impacts.
- Macro Unit 1 AP Econ in the News: Here you can post links to articles relating to the content from this unit. Be sure to include a short summary of your article, explaining how it relates to your AP course.
- Student Thought Forum: Scroll down to the Forum at the bottom of this page and click on one of the "threads" that have been started for this Unit. Read the comments of your classmates, and respond to one that you find interesting.
Latest page update: made by welkerjason
, Mar 9 2008, 10:00 AM EDT
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| Started By | Thread Subject | Replies | Last Post | |
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| alicesu | How much growth is "enough" growth? | 8 | Mar 18 2008, 11:55 AM EDT by annieycsung | |
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Thread started: Feb 12 2008, 4:02 AM EST
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Last class we discussed how in France, you can be unemployed for a long period of time and still enjoy welfare and social benefits from the government. Mr. Welker talked about how this is detrimental to their economy because, unlike nations like China where unemployment means you will probably starve, this allows for citizens to meander along and not strive for efficiency, thus hindering France's economic growth. But what if France, as an MEDC, has already "grown enough"? What if its citizens are already happy? What if it's happy with its current GDP? Does it still NEED to strive for full employment and maximized efficiency?
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| welkerjason | Is GDP really a good measure of well-being? (page: 1 2) | 30 | Feb 14 2008, 9:58 AM EST by serenatu | |
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Thread started: Jan 22 2008, 6:13 PM EST
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My question for you guys is, what's so special about GDP? This monetary measure says nothing about so many indicators of humans' actual well-being, like education, health, distribution of income, the environment, crime rates, divorce rates, and so on. Why do economists use such a narrow figure to measure the well-being of entire nations, when the figure obviously lacks so much information about how happy people really are?
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| kevinyeh | GDP vs. GDP per capita | 4 | Feb 13 2008, 5:18 AM EST by kevinhuang | |
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Thread started: Feb 10 2008, 8:18 PM EST
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You know, I was wondering. Since GDP and GDP per capita actually measure different things, which one do governments find more important? Because it seems to me like most governments are really concerned about GDP, but don't they find the well being of their people important too? Shouldn't they put equal weight on the two different ideas? Why does one get so much more attention than the other?
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