Class Notes (835,394)
Canada (509,154)
Economics (1,617)
ECON 1BB3 (535)
Lecture

1BB3 JAN 24TH

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Winter

Description
Economics 1BB3 – January 24 , 2013 th How do I know if I’m better off than my parents were? -Gross Domestic Product (GDP) increase if prices increase or if output increases -Real GDP vs nominal GDP (base year prices vs current year prices) GDP deflator: a measure of the price level GDP Deflator = (Nominal GDP / Real GDP) x 100 How do we
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