73 0 obj <>stream Calculate nominal GDP for Year 1 and Year 2. This lesson introduces students to the basic concepts of gross domestic product (GDP). Donate or volunteer today! �Z��)�X�@� ��b� f1�Dă� ��R$�s@�p q*����a3�dFj�� 0 �B5 Economic indicators and the business cycle. endobj Example calculating real GDP with a deflator. %PDF-1.5 %���� If you're seeing this message, it means we're having trouble loading external resources on our website. 55 0 obj <>/Filter/FlateDecode/ID[<04B66FE71B1F8B46AC8B5C657A8FD24B>]/Index[36 38]/Info 35 0 R/Length 91/Prev 27727/Root 37 0 R/Size 74/Type/XRef/W[1 2 1]>>stream 1 0 obj To log in and use all the features of Khan Academy, please enable JavaScript in your browser. %���� AP® is a registered trademark of the College Board, which has not reviewed this resource. K���C w= �!/������ߌMBB�+�;E&�<�. A macroeconomic worksheet on Gross Domestic Product requiring students to: 1. GDP … x��]o�F��@��kMs?H.�� 05 Gross domestic product 5 Abbreviations in 03 and in 04 Calculate: X GDP by taking the following data into account: G 60 I 40 M 150 S 30 T 80 C 240 . 2. 3 0 obj ... For example, gross domestic product (GDP) is used to measure fluctuations in output. If you're seeing this message, it means we're having trouble loading external resources on our website. endobj If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. Introduction and Background This guideline highlights, and in some instances clarifies, the application of data management procedures for all GMP documents. hW�o�8�W��Պ�#��H+$ Good Documentation Practice (GDP) Guideline | 5 2. %PDF-1.5 If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. h�bbd``b`Z$��. The quiz is a mixture of math problems and definitions. h�b`````2g`d`af�c@ >V �h8����,ƹ���|�EGsGX��Bh!�H8/�$gφ��&R7��hkk`}����B�bPqt&�Z��ĢY�>#@� �n <> endstream endobj startxref stream Some of the math problems will require you to calculate the rate of real GDP growth. Intuitive Econ This worksheet provides students with practice calculating both nominal GDP and Real GDP using the production approach as well as practice calculating the GDP Deflator and inflation. Our mission is to provide a free, world-class education to anyone, anywhere. About This Quiz & Worksheet. <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 20 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> %%EOF You are an economist who has been asked to calculate your nation’s GDP, which produces only three goods/services. 36 0 obj <> endobj Practice what you've learned about real GDP, nominal GDP, and the GDP deflator in this exercise. endstream endobj 37 0 obj <> endobj 38 0 obj <> endobj 39 0 obj <>stream <>>> Over time the price level changes (i.e., there is inflation or deflation). Discriminate between whether or not a p Real vs. Nominal GDP Practice KEY Real verse Nominal Values Prices in an economy do not stay the same. �I��h�q��>(�"�[�#'�3���.�!�kP�$rv8;�3;<9�?�|X�ɳg'���ru�Y'�N�v����������ɛ���ny���-����������K��\}xr$�����i&u�LZ�����Q�l��œ�w�_�zv=��l _�c)f ��f7sef����f�����f?̥�O�R:�saf��4?����jv7�-��Ǔ�@���H�2 �`�UY����Y���V��-��.T:��B��� �b�*,d���. It lays down guidelines for preparation, recording and correction of data and maintenance of records throughout the lifecycle of a document. <> endobj 2 0 obj Students will participate in a vocabulary sort activity to assess prior knowledge of GDP and identify the basic components of the expenditure approach to calculating GDP. 4 0 obj Calculate GDP using the Value-Added Approach, Income Approach, and Expenditure Approach in order to understand how and why GDP should be the same no matter which method is used. Khan Academy is a 501(c)(3) nonprofit organization. 0
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