ECON: A/B-Day, Tue., 12/9-Wed., 12/10
- Finish producing/presenting GDP v. GPI posters
- Have students pin posters to cork boards around room
- Lecture on differences between GDP and GNP, a.k.a. Gross National Income (GNI)
-Near bottom of page 2, top of page 4 of study guide
-On Venn diagram, classify examples of the following: U.S. corporation producing in the U.S., U.S. corp. producing abroad, foreign corp. producing in U.S., U.S. citizens working in U.S., U.S. citizens working abroad, foreigners working in U.S.
-Why did economists switch from GNP to GDP around early 1990s?
-When might GNP/GNI be more useful than GDP?
- Overview of Quiz topics
Homwork for next class (Thu., 12/11):
- Multiple choice quiz about the measurement of national income, 10 questions with one bonus question (20 points total).
- Complete the shopping assignment, 10 points.