IDSB01H3 Lecture Notes - Jungle Warfare

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Tutorial next week + next after: essay discussion, 2 weeks from today = 1st movie. How can economic change be beneficial to a good society: when does increasing productive capacity contribute to a good society, good society subjective, hard to conclude. The way economists measure progress (development: average income / increase in national income (central scale) natural indicator; approximately the same as gdp (gross domestic product: standard measure. drawbacks: just gives average, doesn"t account for money made overseas, current price measures: can take crisis into account; inflation, prices divide nominal income (current) by increase in income (i. e. 1. 05 if. 5% increase) to find real increase in gdp: always uses real gdp in class, income distribution. average can get very misleading i. e. real income can increase when poverty increases www. notesolution. com: rich are getting richer, poor getting poorer.

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