0000000016 00000 n For example, the output produced at the Nissan car plant on Tyne and Wear contributes to the UK’s GDP; Three ways to measure GDP. x��][��6�~w����p�Զ,�Di*���=�q�mO*��C�n;��/cwo&���M�(@�9g&�S- @ ?P$���C��Ww�������>����]}8{�|���ͷ���o_ܾu�!kk;ټx{�k:�kَ�l�-�͋����sݼ�r�V׼��G�o���ߟ��{�3�{��抱�K�W�����{�gb���L�5��lp����@&:���u��7/����F?�1h�ơ�c�ի]��r>�]_I۫jZ�c ��B��jCTG*��e��V���ǧ�����Y�{ �?�+p�ϻw��� �dƓ���y�PB�Z��4���4I$29�\�}���؟�ݽ�9�K�4�ـ��T�����,�mκ�U��i*��w�k�}�>�'�3��ϗO���{�[��ћ�׻��l0}��v��)��`���jg�i4�1ٷڼ�j�|��}��_�÷% <> Year 1 Nominal GDP. 0000010032 00000 n It refers to the purchase of new capital goods, that is, business equipment, new commercial real estate (such as buildings, factories, and stores), residential housing construction, and inventories. 0000007851 00000 n 0000003257 00000 n MP3 players: $150. startxref 1����BM���d7f���vӈ�,����5{ݪ1W��v7.bX���7���,4���b� *�����$������%�C%�NBQ�I���]=U��e#7���rؼ �:�(TЃ?����g��+���0�v��ɝ���bOn��k k-l��]7��� �Umh�JLe�C��HJD[���ـ�f,V2�����/4�h4b�lqb�(���1�����k�C��r 0000006815 00000 n 0000006027 00000 n > %%EOF $2.99. 0000009214 00000 n 11. 0000087674 00000 n Total $1,058. 4 0 obj To check this, calculate inflation in 2008 using 2007 as the base year using both methods. %PDF-1.4 %���� Year 2 Nominal GDP: Price Quantity GDP; Price Quantity GDP. 5: $75. 0 0000007332 00000 n I will put the results below, but you should verify my calculations. 3: $450. H3�p�7��6iF �0 �0� xref In calculating GDP, investment does not refer to the purchase of stocks and bonds or the trading of financial assets. Hamburgers: $3. Real GDP = Nominal GDP / GDP deflator Step 4: Next, determine the population of the country and it is easily available at the governmental census websites of each country. 16. x�b```b``�������� Ȁ �@1V��[�Y�``�rI��Dbb�ѝ�[?�)j�_tkH�---����II�$-���$��58g���@,�e�gT`Y�!�`�`t ��"C w���^�5CY���X�o��@�� �4ZR-ɽ�� �^�u�`0؂��8� 315 31 endobj Oil changes: $15. Step 5: Finally, the formula for GDP per capita can be derived by dividing the real GDP (step … 0000001917 00000 n 0000037644 00000 n 0000009483 00000 n ��SEG��W ��N!Eh�>j4B�4�G��Y��l�&5GS̨�V �;�Ż��*�d���ڶ@0��sӯѲ�T�[��q��H��"�Gqs"֛F ���R>�뜈K�JN��q�� �M. Gross domestic product (GDP) is the total value of output produced in a given time period; GDP includes the output of foreign owned businesses that are located in a nation following foreign direct investment. Calculate nomincal GDP for Year 1 and Year 2. This table measures inflation for 2008 using the two different methods of calculating real GDP. 0000005404 00000 n 20: $40. GDP = price x quantity. 0000008387 00000 n calculate growth rates, the base year does not affect the measurement of inflation. endobj <>>> 0000000934 00000 n trailer 2. What is GDP? 6: $108. One way of arriving at GDP is to count up all of the money spent by the different groups that participate in the … 0000069431 00000 n 0000008781 00000 n 0000001728 00000 n 3 0 obj endobj <<03D23E55B108994BB8F90028AC9ED413>]>> �ɉ�X,���ٯİd 2 0 obj by . 0000001230 00000 n x�bb�b`b``Ń3� ����` �� 0000010716 00000 n This method of compiling GDP leads to counting the production by sector of activity. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Տ�j��[1X-�ܕ� �e;p�zd,VB ���.�~F�T����/�����������{�)� 0000004634 00000 n 0000003769 00000 n 0000001413 00000 n 25: $75. Pa�A����9@`�cH5 0000004531 00000 n Hamburgers: $2. Digital Download. endstream endobj 316 0 obj <>/Metadata 16 0 R/PieceInfo<>>>/Pages 15 0 R/PageLayout/OneColumn/OCProperties<>/OCGs[317 0 R]>>/StructTreeRoot 18 0 R/Type/Catalog/LastModified(D:20090511130806)/PageLabels 13 0 R>> endobj 317 0 obj <. endstream endobj 344 0 obj <>/Size 315/Type/XRef>>stream Intuitive Econ . stream 345 0 obj <>stream CALCULATING INFLATION WORKSHEET (gr 12) TASK 1 - CALCULATE INFLATION TASK 2 - STUDY THE DIAGRAM ABOVE: IS INFLATION RISING OF FALLING? %PDF-1.5 0000004277 00000 n SI Worksheet GDP- Answer Key 1. PDF (460.4 KB) A macroeconomic worksheet on Gross Domestic Product requiring students to: 1. �xʒm&׆i�����ϱ״i[������%�W���&Ty��A��͋ǦQ�����θ{�p��m�`.�'*$�1��c�w����� ��8k���Z�M2�yk�}�lx ��F�?�gb�e?�0j,x��z޲���~����j/v���AK���Cx~�+� %���� 0000002732 00000 n GDP Classification & Calculation Worksheet. Analyse and explain the diagram. 5: $875. MP3 players: $175. 0000009528 00000 n Calculate GDP using the Value-Added Approach, Income Approach, and Expenditure Approach in order to understand how and why GDP should be the same no matter which method is used. 0000004017 00000 n Calculating GDP Based on Spending . Total $565. 1 0 obj 0000008949 00000 n 315 0 obj <> endobj >�?oB���U04����7�$-{v��A Items included in GDP is almost infinite. 0000054749 00000 n Gross Domestic Product is the total of all final goods and services produced in a country within a given period of time. Name a couple of things that would NOT be included. Name a couple of things that would be included in GDP. 0000002260 00000 n Oil changes: $18. <> TASK 3- TEST YOUR UNDERSTANDING a) Use the table below, construct a CPI using 2009 as the base year: Goods/services Quantity (basket) Price per unit 2008 Price per unit 2009 Price per unit 2010 Price per … Most countries using this approach extrapolate value added with tools such as the Index of Industrial Production (IIP), physical quantity indicators or sales type statistics for estimates of value added in manufacturing. Three methods of calculating GDP The Production (output) approach. �rl�H;�� Պ�|W^���ڵ(�j��i�l;�E‘X™7���#��ҷR寣配��rZ��.j�1%����//�/�7?�`�a��i��Z/�7Q�j��Ѭ� ӬYQ�ԚX'` ���w $���N{Y`����p�̭aLY!�~y�a&i䚼ڽ��{ἷ��K��%��p�ހ��\��1�4��I������J�?��7pϮ����oj�!�H�qފ)�vF7�1���}�7��{�^ R�o��,�]����>�~�W41��m3k]�o���0�&����� ���|0�I��K���Hi�����0�'N=���o

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