AP ECONOMICS: February 15

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Presentation transcript:

AP ECONOMICS: February 15 --go over Worksheet 14.3 (HO—Helped or Hurt by Inflation?) A.P. Economics Learning Target: In order to understand how to measure and evaluate economic performance, I will analyze the main price indices—the Consumer Price Index (CPI) and the Gross Domestic Product (GDP) deflator. I will know I have it when I can: (1) construct and use indices to convert past dollar values into present dollar values; (2) construct and use indices to convert nominal values into real values; (3) analyze the difference between the two indices as measures of inflation; and (4) explain problems associated with each measure. See CPI and GDP Deflator Lecture Guide (HO) --market basket concept; calculating percentage change --converting nominal to real GDP Assignment: --Worksheet 15.3 and Worksheet 11.3 (on back of 15.3) --read Module 17 --study for quiz over basics of inflation, CPI, & GDP deflator Monday (open notes)