ECON 104 Lecture 7: 1 Feb

1 Page
67 Views
Unlock Document

Department
Economics
Course
ECON 104
Professor
Ozgur Orhangazi
Semester
Spring

Description
T Nominal vs Real GDP Current Dollars – The price we pay for goods and services Nominal GDP – Gross Domestic product measured in current dollars. GDP today, not regarding inflation. REAL GDP TO calculate the real GDP, This year’s production*Last Year’s prices. Real GDP ignores the change in prices. Example: you make $100k a year for two years, you can buy more things the first year than the second year because prices have inc
More Less

Related notes for ECON 104

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit