Interpreting GNP

Read the following:

• Comparing GDP across Countries (6.4), but do not worry about exchange rates if it confuses you.
  
• How Well GDP Measures the Well-Being of Society (6.5) from OpenStax CNX "Principles of Macroeconomics"

Panel discussion

• Look at households in Peter Menzel’s Material World: A Global Family Portrait (BMCC Library).
  
• Then view the online updates at Revisits to some Material World Families. What insights emerge?

Panel discussion

How does GNP (gross national product), compare to Bhutan’s GNH (gross national happiness)? Or proposed U.N. measures?

Evaluate their usefulness by reading the following:

• Bhutan: A Higher State of Being (New York Times)
• Gross National Happiness - Centre for Bhutan Studies & GNH
  

Measuring the Price Level

Read the following:

• Tracking Inflation (9.1)
  
• How Changes in the Cost of Living are Measured (9.2) from OpenStax CNX "Principles of Macroeconomics"

Download Principles of Macroeconomics for free at http://cnx.org/contents/4061c832-098e-4b3c-a1d9-7eb593a2cb31@11.13.

"Zero Textbook Cost Syllabus for Economics 201 (Macroeconomic Theory)" by Bettina Berch (2017) is licensed under CC-BY-NC-SA