Chapter 3 THE INTERDEPENDENCE BETWEEN THE MAJOR SECTORS, MARKETS AND FLOWS IN THE MIXED ECONOMY Major Sectors • Major Sectors in a mixed economy: – Households: sellers…

NATIONAL INCOME ACCOUNTING WHAT ARE THE MEANING OF THE ACRONYMS? GDP NI CPI GNP NFIA NATIONAL INCOME ACCOUNTING A system of statistics and accounts that keep tracks of production,…

Slide 1Global Macroeconomics Taggert J. Brooks Slide 2 What is Economics? Economics is the study of the allocation of scarce resources in an attempt to satisfy unlimited…

1.PART 7 THE CIRCULAR FLOW AND ECONOMIC FLUCTUATIONS Chapter 15 The Circular Flow 15-2. Lecture Plan The exchange flow between households and the business sector The two-sector…

1. Welcome to JA BizTown®Volunteer Mentor TrainingClick “next” to advance through training presentation 2. Thank You!Welcome to Junior Achievement of Central Indiana’s…

Slide 1 Macroeconomics What is Macroeconomics? Important Macro Variables What is GDP? Macroeconomic Policy Slide 2 What is Macroeconomics? Microeconomics – studies individual…

Slide 1 Chapter 20 GROSS DOMESTIC PRODUCT ACCOUNTING Gottheil — Principles of Economics, 7e © 2013 Cengage Learning 1 Slide 2 Economic Principles © 2013 Cengage Learning…

Slide 1 dr Marek Szczepa ń ski L.1 INRODUCTION TO MACROECONOMICS Slide 2 Contents The economic problem Opportunity cost Definition of macroeconomics Production possibility…

Slide 1 Slide 2 Jeopardy $100 Are You Scarce? CapitalismProduction Supply and Demand Markets $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300…

Chapter 2 The Economy: Myth and Reality E pluribus unum (Out of many, one) MOTTO ON U.S. CURRENCY American Economy: A Thumbnail Sketch U.S. economy Biggest national economy…