Ch05-MeasuringEconomicActivity综述.ppt

* Most economists, policymakers, social scientists, and businesspersons use a country’s real GDP per capita as the main indicator of the average person’s standard of living in that country. * * Very scathing words, indeed! * Very scathing words, indeed! * * Much of what Robert Kennedy said about GDP is correct. * Much of what Robert Kennedy said about GDP is correct. * * * * * * * * * * Suggestion: Show students the data in the first three columns of the table. Before showing them the cost of basket calculations, tell them to take 3 minutes to compute the cost of the basket in each of the three years, and use those results to compute the value of the CPI in each of the three years. Then, show the rest of the slide. Or, you can just cruise through this example, but tell them to pay close attention because in a few moments they will have to compute a similar example. * * Suggestion: Show students the data in the first three columns of the table. Before showing them the cost of basket calculations, tell them to take 3 minutes to compute the cost of the basket in each of the three years, and use those results to compute the value of the CPI in each of the three years. Then, show the rest of the slide. Or, you can just cruise through this example, but tell them to pay close attention because in a few moments they will have to compute a similar example. * Part A is not difficult but requires an intermediate step: students must compute the cost of the basket in 2005 to find the CPI in 2005. Part B has two intermediate steps: computing the cost of the basket in 2006, then computing the CPI in 2006. * Part A is not difficult but requires an intermediate step: students must compute the cost of the basket in 2005 to find the CPI in 2005. Part B has two intermediate steps: computing the cost of the basket in 2006, then computing the CPI in 2006. * * * * This slide replicates Figure 1 from the textbook. Source: Bureau of Labor Statisti