PPT-Chapter 4 Spending, Income, and GDP

Macroeconomics Data and Issues Learning Objectives Explain how economist define and measure an economys output Use the expenditure method for measuring GDP to analyze economic activity Define and compute nominal GDP and real GDP. Fiscal Divergence?. Europe and Central Asia Region. World Bank. Office of the Chief Economist. Poverty Reduction and Economic Management Sector Management Unit. Human Development Sector Management Unit. Calculating and Tracking GDP. Expenditure A. pproach. Determining GDP by adding up all the spending on final goods and . services.. Personal . Consumption Expenditures . (. C. ). Gross . Investment . , Transfers, . and Redistribution . Brazil . and the United States. Nora . Lustig. Tulane University. Nonresident Fellow CGD and IAD. Presented at “Sustainable Growth in the . XXIst. Century,” . The value of the output of goods and services produced in an economy over a period of time. Increases in National Income mean that the economy has grown – economic growth!. It is assumed that a . richer nation . Aggregate Expenditures. The total amount spent on final goods and services. . AE consists of (C) consumption + (. Ig. ) Gross Investment. . AE = C + . Ig. Equilibrium GDP. The level at which the total quantity of goods produced equals the total quantity purchased. . Overview and Key Findings of a New Report from. The Commonwealth Fund Commission on a. High Performance Health System. Cathy Schoen, Senior Vice President and Stuart Guterman, Vice President and Executive Director of the Commission . In . 1995 the Nominal GDP = $100 billion and Real GDP = $120 billion. Calculate the GDP deflator for this economy in 1995.. In. . 1995 the Nominal GDP = $100 billion and Real GDP = $120 billion. Calculate the GDP deflator for this economy in 1995.. This web quiz may appear as two pages on tablets and laptops.. I recommend that you view it as one page by clicking on the open book icon at the bottom of the page.. 10a – The Spending Multiplier. . Data in legend are for 2014.. Source: . OECD Health Data 2016. . Data are . for current spending only, and . exclude . spending on capital formation of health care providers. . Exhibit 1. Percent. Health Care Spending as a Percentage of GDP, 1980–2014. OBJECTIVE. : Examine the concepts of Fiscal Policy. . AP Macro-II.A. Language objective. : SWBAT define essential vocabulary on measurement of economic performance in regards to Fiscal Policy. In addition, . The Gross Domestic Product (GDP) and National Accounting 2 GDP and National Accounting Chapter 7 Vocabulary Nominal Gross Domestic Product (GDP) Real GDP Intermediate goods Final goods Disposable income a growth path after the slowdown followingthe financial crisisFigure 1 Annual growth of health expenditure and GDP in real terms 2000-17Source OECD Health Statistics 2018-4-202468Health spendingGDPHea New Estimates of the Federal Budget OutlookAlan J AuerbachWilliam G Gale and Aaron KrupkinFebruary 2019ABSTRACTWe provide estimates of the federal budget outlookbased on new Congressional Budget Offic Alan J. . Auerbach. , William Gale, Byron Lutz, Louise . Sheiner. The views expressed here are solely those of the authors and should not be attributed to any other person or any organization, including the Board of Governors of the Federal Reserve..