1. AP ECONOMICS: February 11
Warm-up (1) What is the formula for calculating a new price index? (2) What is the formula for calculating a percentage change?
--review last part of Worksheet 15.3 (HO from last class)
A.P. Economics Learning Target: In order to understand how to measure and evaluate economic performance, I will analyze the Gross Domestic Product (GDP) deflator. I will know I have it when I can construct and use indices to convert nominal values into real values.
See CPI and GDP Deflator Lecture Guide (HO from last class)
--converting nominal to real GDP
--Worksheet 11.3 (HO from last class)
-now, calculate the GDP deflators from the information given
(Formula: Nominal GDP/x = Real GDP)—solve for x Assignment
--Make sure Unit 2 GC videos have been watched --MCT Practice Questions (HO from last class)
FRQs #3 & #4 on Wednesday (GDP and Unemployment) MCT #2 on Thursday