1. Chapter 2. The Data of Macroeconomics Homework: pp. 41-42: #2, 6, 8 Link to syllabussyllabus

2. Fig. 2-1 p. 19. The Circular Flow

3. Fig 2-2 p. 20. Stocks and Flows

4. Other Text. Value Added in a five-stage process

5. Table 2-1 p. 29. GDP and its Major Components, 2007

6. GDP by Sector: Statistical Abstract of the U.S.

7. GDP, $billion

8. Link to US National Accounts NIPA on GDP GDP RelationshipRelationship of GDP, GNP, National Income, etc. http://www.bea.gov/bea/dn/nipaweb/SelectTable.asp?Popular=Y

9. Data on US Real and Nominal GDP http://www-personal.umd.umich.edu/~mtwomey/econhelp/301files/NIPARealGDP.xls

10. Bat Other Text The Nominal and Real Price of a First-Class Letter

11. Fig. 2-3 p. 34. Changes in the CPI and in the GDP Deflator (Point is that the two price indexes move in tandem).

12. Fig. 2-4 p. 38. US Population and Labor Force, 2011 Labor Force = 139.6 + 14.0 =153.6 Unemployment rate = (14.0/153.6)x100 = 9.1 % Alternate measure: Labor Force Part. Rate =Labor Force/Population =(153.6/239.9)x100 =64% Unemployment was 9% in 2012.

13. The labor force, employment and unemployment, 2002 Unemployment rate was 8.3/142 or 5.8%. In 2000 it was 4%. McConnell/ Brue text!

14. Figure 2-5 p. 39. Labor Force Participation Rates (Major change in US society since WWII).

15. Gini Coefficient of Inequality of the Distribution of Income, US Source: US Department of Commerce http://www.personal.umd.umich.edu/~mtwomey/econhelp/301files/Y-Dist.xlsx

16. Pre- Fisc Post- FiscRatio Pre- Fisc Post- FiscRatio Chile52.850.6104.3Poland49.431.7155.8 Korea34.031.1109.4Italy49.831.9156.3 Switzerland37.229.8124.8Norway42.425.5166.4 U.S.A.49.037.4131.0Slovak R.43.626.0168.1 Israel50.337.5134.2Sweden43.625.8169.0 Canada44.031.9138.1Ireland52.631.1169.2 Iceland37.927.2139.3France49.229.0169.6 N. Zealand46.132.7140.7Luxembourg46.627.2171.2 Japan46.432.9141.3Denmark41.524.2171.6 Australia46.732.8142.3Germany49.528.6172.9 Portugal51.636.0143.4Czech R.45.725.8176.8 Spain46.932.4144.8Austria47.426.5178.9 Estonia47.632.5146.5Belgium47.826.5180.3 Netherlands42.328.6147.9Slovenia44.224.3182.0 Greece49.433.4148.1Finland47.625.7185.2 U. Kingdom50.633.8149.6 Hungary#N/A28.5#N/A Mexico#N/A47.2#N/A Turkey#N/A41.7#N/A More Ginis (Inequality)

18. Moved! Fig. 2-5 p. 36. Okun’s Law Okun’s Law: % Δ in Real GDP = 3% - 2 x Δ in Unemployment