Macroeconomic Essentials - 2nd Edition: Understanding Economics in the News

2017-07-07 02:10:07



		Contents



		Preface



		xi



		1 Introduction



		1



		1.1 Media Economics



		2



		1.2 Up-and-Down Economics



		3



		1.3 Policy Evaluation



		4



		1.4 A Picture Can Be Worth a Thousand Words



		4



		1.5 Really Important Macroeconomic Ideas



		5



		2 Measuring GDP and Inflation



		11



		2.1 What Is GDP?



		12



		Curiosity 2.1: What Is the Difference between GDP and GNP?



		13



		2.2 Estimating GDP



		14



		Curiosity 2.2: Where Can These Numbers Be Found?



		15



		2.3 GDP as Gross Deceptive Product



		16



		2.4 Real versus Nominal GDP



		17



		2.5 Measuring Inflation



		19



		Curiosity 2.3: How Do the GDP Deflator and the CPI Differ?



		21



		2.6 The Costs of Inflation



		22



		Curiosity 2.4: What Level of Inflation Should We Aim For?



		24



		Media Illustrations



		24



		Appendix 2.1: Measuring GDP by Adding Up Incomes



		32

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