Lesson 2.1: Measuring the Nation's Output & Income by Nadia Bauman https://padlet.com/87194/noface by Nadia Bauman en-us 2020-02-19 17:14:19 UTC 2026-02-12 17:37:50 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/448795107/e59b9c6628172da358c2a55575da168b/anime_spirited_away_no_face_nobody_512.png Which Component of GDP Would Each of These Fit Into? 87194 https://padlet.com/87194/noface/wish/447555564 a) Mechanic fixes a transmission
   - Consumption

b) A business purchases computer software and a PC
   - Investment

c) A local library purchases new audio books
   - Government spending

d) A retailer purchases tennis shoes from a manufacturer China and sells them
   - Net exports/imports

e) A mother purchases those tennis shoes from the retailer
   - Consumption]]> 2020-02-19 17:21:19 UTC https://padlet.com/87194/noface/wish/447555564 Identify One or More Example of Each of the Four Components 87194 https://padlet.com/87194/noface/wish/447561596 a) Consumption
   - A person bought their partner a necklace for Christmas

b) Investment
   - An art school purchased Photoshop for their students

c) Government spending
   - The government paved a new road

d) Net exports
   - Switzerland sold America an abundance of Toblerone           chocolate bars]]> 2020-02-19 17:28:38 UTC https://padlet.com/87194/noface/wish/447561596 Explain Why the Sale of Used Goods is Not Included in GDP 87194 https://padlet.com/87194/noface/wish/447563324 The sale of used goods is not included in GDP because when these goods were first produced, they were part of the GDP. Including these used goods would be recounting goods that are already part of the GDP.]]> 2020-02-19 17:30:52 UTC https://padlet.com/87194/noface/wish/447563324 Activity 2 87194 https://padlet.com/87194/noface/wish/447573546 2020-02-19 17:42:36 UTC https://padlet.com/87194/noface/wish/447573546 Activity 1 87194 https://padlet.com/87194/noface/wish/447573977 2020-02-19 17:43:07 UTC https://padlet.com/87194/noface/wish/447573977 By How Much has GDP Increased from Year 1 to Year 2? 87194 https://padlet.com/87194/noface/wish/447574331 From year 1 to year 2, the GDP has increased by $493.  ($1,058 – $565 = $493)]]> 2020-02-19 17:43:32 UTC https://padlet.com/87194/noface/wish/447574331 By How Many Dollars Was Nominal GDP Overstating GDP in Year 2? 87194 https://padlet.com/87194/noface/wish/447576148 In year 2, the nominal GDP was overstating the GDP by $168.
($1,058 – $890 = $168)]]> 2020-02-19 17:45:47 UTC https://padlet.com/87194/noface/wish/447576148 How Much Real GDP Increased from Year 1 to Year 2? 87194 https://padlet.com/87194/noface/wish/447578566 From year 1 to year 2, the real GDP increased by $325.
($890 – $565 = $325)]]> 2020-02-19 17:49:03 UTC https://padlet.com/87194/noface/wish/447578566 Why is it Important to Adjust Nominal GDP for Inflation? 87194 https://padlet.com/87194/noface/wish/447598858 It is important to adjust the nominal GDP for inflation because inflation will make the nominal GDP appear to be greater than what it actually is, thus diminishing the power of income and savings for both consumers and investors.]]> 2020-02-19 18:14:08 UTC https://padlet.com/87194/noface/wish/447598858