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Tonya Blevins ECO2072 Summer 2011. Slide 1: Title Slide 2: Index Slide 3: Introduction Slide 4:...

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Tonya Blevins ECO2072 Summer 2011
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Page 1: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

Tonya BlevinsECO2072

Summer 2011

Page 2: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

Slide 1: Title Slide 2: Index Slide 3: Introduction Slide 4: Consumption Slide 5: Investments Slide 6: Government purchases Slide 7: Net Exports Slide 8:How GDP relates to economics Slide 9: Conclusion

Page 3: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

GDP measures market value of goods/services GDP also measures income/expenditures GDP is broken into four components:◦Consumption◦Investment◦Government Purchases◦Net Exports

Y=C+I+G+NX

Page 4: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

Spending by households on goods/services. Can be durable or non-durable Durable includes: appliances and automobiles Non-Durables includes: food and clothing Consumption excludes purchases of new housing Intangible services include: medical care

Page 5: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

The purchase of goods for future use. The sum of equipment, inventories, and structures. Includes the purchasing of new housing

Page 6: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

Spending on goods/services by federal, local, and state government.

Includes the following:◦Salaries of government workers◦Expenditures on public works

Page 7: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

Domestically produced goods by foreigners (exports). Foreign goods by domestic residents (imports)

Page 8: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

Y=C+I+G+NX calculates growth of the economy in the United States

From 1965-2010 GDP increased 3% per year. Periods of declination = recession (figure 2, pg 503) Recession = unemployment & bankruptcy Higher GDP = better way of life

Page 9: Tonya Blevins ECO2072 Summer 2011.  Slide 1: Title  Slide 2: Index  Slide 3: Introduction  Slide 4: Consumption  Slide 5: Investments  Slide 6:

GDP measures goods/services produced in the nation. Goods/services measured during given time period. Also measure Total income/Total Expenditures Four Components:

Y=C+I+G+NX Higher GDP = better way of life


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