8.2
 ECO 120
 Module 8 Part 2
 Survey of Economics

 

 

GDP and the Standard of Living

 

 


Review/Preview of
Learning Objectives

 

 Class Activities Checkpoint Summary Your Homework Love for Econ...

 

 

 Review/Preview of   
 Learning Objectives

 

 

Preview 

Master these learning goals.

 

  13.3  Distinguish between nominal GDP and Real GDP and define the GDP  deflator.

 13.4  Describe and explain the limitations of real GDP as a measure of the standard of living.

 

 

 

 Class
Activities

 

Read your text.  Complete your study guide.

 

 13.3  Distinguish between nominal GDP and Real GDP and define the GDP  deflator.
Slides number 28 through 38 deal with Course Objective  13.3 . 
Click GDP and the Standard of Living - 2004 Slides.

 

 13.4  Describe and explain the limitations of real GDP as a measure of the standard of living.
Slides number 39 through 42  deal with Course Objective  13.4 . 
Click GDP and the Standard of Living - 2004 Slides.

 

 

 

 Checkpoint
 Summary

 

Textbook page  357  summarizes key points about GDP and the Standard of Living.

 

 

 Your
Homework

 

 

 

Complete all portions of the textbook and study guide relating to   Checkpoint 13.3 and 13.4 on GDP and the Standard of Living. 

Take the optional post-study bonus point quizzes on GDP and the Standard of Living on Saturday following Module 8.

Take the optional pre-study bonus point quizzes on Fiscal Policy and Monetary Policy on Sunday preceding Module 9.

Then read and study Fiscal Policy and Monetary Policy course objective 19.1 in your textbook and study guide
before attending the next class session.

 

 

 

 Love for Econ
Springs Eternal !

Take a virtual internet trip through Patrick Henry Community College economics to visit the following Internet site:

  The OECD groups 30 member countries sharing a commitment to democratic government and the market economy. With active relationships with some 70 other countries, NGOs and civil society, it has a global reach. Best known for its publications and its statistics, its work covers economic and social issues from macroeconomics, to trade, education, development and science and innovation.

        http://www.oecd.org

The myPHCC link has been developed to help students access on-line resources commonly used by PHCC students and staff.

 

Love for econ springs eternal !