· What is GDP, real GDP, nominal GDP? · Different ways to calculate GDP · What is the CPI and GDP deflator? (differences/similarities) · What ar

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·               What is GDP, real GDP, nominal GDP?

·               Different ways to calculate GDP

·               What is the CPI and GDP deflator? (differences/similarities)

·               What are the growth rate, GDP deflator, gross investment, net exports, national income formulas?

·               Economic goals, growth rate benchmarks, omissions from GDP/well being measure

·               What is personal income, personal disposable income, savings, how calculated

·               What is the CPI, what calculated, what does it measure, problems with CPI with the way it is calculated

·               Uses of the CPI measure

·               How to correct economic variables for effects of inflation

·               Real and nominal interest rates

·               Why discrepancy in economic growth rates between nations (rich and poor)

·               What is standard of living, productivity?

·               How productivity calculated, determinants of productivity?

·               Relationship between savings, investment, productivity

·               Government policies to change productivity

·               Factors affecting productivity, production function

I want detail answers for each question, definition not should be the same every question should have examples and each question should be detailed

· What is GDP, real GDP, nominal GDP? · Different ways to calculate GDP · What is the CPI and GDP deflator? (differences/similarities) · What ar
THINGS TO KNOW FOR TERM EXAM #2 1. Chapter 5 What is GDP, real GDP, nominal GDP? Different ways to calculate GDP What is the CPI and GDP deflator? (differences/similarities) What are the growth rate, GDP deflator, gross investment, net exports, national income formulas? Economic goals, growth rate benchmarks, omissions from GDP/well being measure What is personal income, personal disposable income, savings, how calculated 2. Chapter 6 What is the CPI, what calculated, what does it measure, problems with CPI with the way it is calculated Uses of the CPI measure How to correct economic variables for effects of inflation Real and nominal interest rates 3. Chapter 7 Why discrepancy in economic growth rates between nations (rich and poor) What is standard of living, productivity? How productivity calculated, determinants of productivity? Relationship between savings, investment, productivity Government policies to change productivity Factors affecting productivity, production function

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