Study Guides (380,000)
CA (150,000)
UOttawa (10,000)
ECO (300)
Midterm

ECO 1102 Study Guide - Midterm Guide: Gdp Deflator, Physical Capital, Human Capital

Department
Economics
Course Code
ECO 1102
Professor
Najib Khan
Study Guide
Midterm

This preview shows half of the first page. to view the full 2 pages of the document.
Note-Jan.22-marco
-GNP (national) matters who produced the movie, vs GDP (domestic) where it was
produced.
-GDP: production inside the borders of a country, no matter by who. or GDI
(domestic income)
-GNP: production by the citizens of a country no matter where they are. or GNI
-Per capita/[erson calculation = Total GDP/Total Population
-->you use this as to get the "real picture" of the country's economic well-being,
not just the GDP.
Jan.27, 2016
CPI calulation (always b/w two consecutive years)
->determine the basket (goods and services) (ex. 10kg of beef per basket
-Find the prices
-Choose a base year and compute index
-Compute the inflation rate
ex. Price 2011 = 80 Inflation rate
Price 2012 = 90 -[(CPI year 2 - CPI year 1)/(CPI Year 1)] x
100
90/80 = 1.125
1.125 x 100 = 112 for year 2
GDP Deflator vs CPI
Production time and consumption
Domestic production (excludes imports) vs including imports
Interest rates
\$1000(0money in bank) \$1000 (price)
\$1010 \$1020
Debt financing
Saving ==(the three stripes)