Chapter 1 - Witte

1
Chapter 1 - Witte

• Real GDP
• Inflation
• Unemployment
• Recession
• See Data

2
Chapter 1 - Witte

• Models Exogenous vs. Endogenous
• Model Supply and Demand

3
Chapter 2 - Witte

• Real GDP Y
• Income
• Output
• Definition
• Market Value
• Real vs. Nominal GDP Deflator

4
Chapter 2 - Witte

• Real GDP is FINAL Goods and Services
• Within an economy
• Given period of time

5
Chapter 2 - Witte

• Y C I G NX
• C
• I
• G
• NX
• See Data

6
Chapter 2 - Witte

• CPI Consumer Price Index
• Headline vs. Core
• GDP Deflator vs. CPI
• See Data

7
Chapter 2 - Witte

• Employment
• Labor Force
• Unemployment Rate
• Labor Force Participation Rate
• See Data