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Similaire à Ec4004 Lecture1 Growth Matters
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Ec4004 Lecture1 Growth Matters
- 45. GDP: Sum of all final goods
and services produced in the
economy
- 49. Growth rate of real GDP for year t
=
(( Yt− Yt−1)/ Yt−1)− 1
Multiply by 100 to get the growth rate
of real GDP in percent per year.
- 50. Example:
Y2006=105;
Y2005=100
Growth Rate = 105-100/100-1*100
=5%
- 52. Multiply each year’s quantity of output of
each good by the price of the good in a base
year.
GDP in constant Euros
Chain-weighted real GDP
- 56. Next Time
Growth Theory
Read Barro Chapters 2&3