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Title: Principles of Macroeconomics Gummerson Notes
Description: Notes from when I took Principles of Macroeconomics with Alan Gummerson at FIU. I easily aced the class Chapter Numbers refer too Paul Krugman's Macro textbook. Blue lines refer too what the professor said, black to powerpoint slides.
Description: Notes from when I took Principles of Macroeconomics with Alan Gummerson at FIU. I easily aced the class Chapter Numbers refer too Paul Krugman's Macro textbook. Blue lines refer too what the professor said, black to powerpoint slides.
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9/11/13
Macroeconomics Ch
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When you go from 2004 to 2005 you use the average of the prices between these years
Then when you go from 2005 to 2006 you use the average of those
We usually want to use GDP per capita to find a good comparison of living standards
This still doesn’t account for income distribution
The aggregate price level is a measure of the overall level of price in the economy
Economists calculate this cost by purchasing a market basket
This holds the q constant and measures the price
Price index= cost of market basket in one year/cost in another year * 100
The Inflation rate is the yearly % change based on the CPI
Based on the market basket of a US family
Inflation rate= PI Y2 – PI Y1/PI Y1
New minus old over old
Title: Principles of Macroeconomics Gummerson Notes
Description: Notes from when I took Principles of Macroeconomics with Alan Gummerson at FIU. I easily aced the class Chapter Numbers refer too Paul Krugman's Macro textbook. Blue lines refer too what the professor said, black to powerpoint slides.
Description: Notes from when I took Principles of Macroeconomics with Alan Gummerson at FIU. I easily aced the class Chapter Numbers refer too Paul Krugman's Macro textbook. Blue lines refer too what the professor said, black to powerpoint slides.