Comparison of Economic Data: GDP, Population, & Unemployment in Selected Countries (2004) , Study notes of Introduction to Macroeconomics

Download Comparison of Economic Data: GDP, Population, & Unemployment in Selected Countries (2004) and more Study notes Introduction to Macroeconomics in PDF only on Docsity! 1 2004 GDP (Billions of $’s per year) 1 U.S. 12300 7 Italy 1800 2 Japan 4800 8 Canada 1050 3 Germany 2900 9 Korea 750 4 UK 2400 10 India 700 5 France 2200 11 Mexico 650 6 China 1800 12 Russia 600 2004 Population (Millions) 1 U.S. 295 7 Italy 60 2 Japan 130 8 Canada 30 3 Germany 85 9 Korea 50 4 UK 60 10 India 1100 5 France 60 11 Mexico 105 6 China 1300 12 Russia 145 GDP per capita ($’s per head per year) 1 U.S. 41500 7 Italy 31500 2 Japan 37500 8 Canada 32000 3 Germany 35500 9 Korea 15000 4 U.K. 38500 10 India 700 5 France 36500 11 Mexico 6300 6 China 1400 12 Russia 4500 2 BLS Data www.bls.gov July 2005 Employed 142.1 N Unemployed _7.5 U Labor Force 149.6 unemployment rate .050 = 7.5/149.6 = u Recession 2001? GDP 2000 III 9862 2000 IV 9954 2001 I 10021 2001 II 10129 2001 III 10135 2001 IV 10226 2002 I 10338 Recession 2001 nominal real GDP GDP 2000 III 9862 9837 2000 IV 9954 9888 2001 I 10021 9876 2001 II 10129 9906 2001 III 10135 9871 2001 IV 10226 9910 2002 I 10338 9994 5 0 2000 4000 6000 8000 10000 1930 1940 1950 1960 1970 1980 1990 2000 Y 1929 through 2002 6 0 .2 .4 .6 .8 1 1.2 1930 1940 1950 1960 1970 1980 1990 2000 P 1929 through 2002 1000 3000 5000 7000 9000 11000 1930 1940 1950 1960 1970 1980 1990 2000 Y 1929 through 2002 (log scale) -10 -5 0 5 10 1930 1940 1950 1960 1970 1980 1990 2000 Grow th Rate of Y 1930 through 2002 7 .2 .4 .6 .8 1 1.2 1930 1940 1950 1960 1970 1980 1990 2000 P 1929 through 2002 (log scale) Increase in K during 1988 C 4280 K1988 17668 I 903 I1988 903 o G 1308 dep -454 } 449 NX -112 K1989 18117 o Y 6368 50 100 150 1930 1940 1950 1960 1970 1980 1990 2000 N 1929 through 2002 (log scale) 10 1930 1940 1950 1960 1970 1980 1990 2000 N 1929 through 2002 (log scale) 100000 150000 1930 1940 1950 1960 1970 1980 1990 2000 K/N 1929 through 2001 20000 40000 60000 1930 1940 1950 1960 1970 1980 1990 2000 Y/N 1929 through 2002 11 1000 3000 5000 7000 9000 11000 1930 1940 1950 1960 1970 1980 1990 2000 Fc 1929 through 2002 (log scale) 1000 3000 5000 7000 9000 11000 1930 1940 1950 1960 1970 1980 1990 2000 Fd 1929 through 2002 (log scale) 1000 3000 5000 7000 9000 11000 1930 1940 1950 1960 1970 1980 1990 2000 Potential Output 1929 through 2002 (log scale) 12 6000 8000 10000 1990 1993 1996 1999 2002 Actual and Potential Y 1989:1 through 2003:1 “Fact” 1 • Economies tend to operate close to potential output unless (temporarily) pushed away from it by disturbances. “Fact” 2 • These disturbances usually have to do with shifts in demand