Learning Goals
By the end of this portion of the unit I should..
1. Understand how GDP works and is measured.
2. Be able to analyze inflation in our society today.
3. Understand the causes of recessions and depressions.
1. Understand how GDP works and is measured.
2. Be able to analyze inflation in our society today.
3. Understand the causes of recessions and depressions.
How does the above political cartoon illustrate inflation?
Unit 3.1 Macroeconomics & GDP
GDP (What is GDP?)
gdp.ppt | |
File Size: | 3431 kb |
File Type: | ppt |
Visit the following link here and answer the following questions:
1. By what percentage has Canada's GDP grown from February 2021 to February 2022? Is this positive or negative for Canadians? Why? 2. What percentage of Canada's GDP does the Canibus Industry make up in February 2022? How has that changed since 2021? 3. What is Canada's biggest industry? |
The BIG Mac Index
Visit the Big Mac Index here. What is the Big Mac Index and what is its purpose? Then visit this link and read about Purchasing Power Parity. How does the Big Mac Index illustrate Purchasing Power Parity and why is Purchasing Power Parity a better way to measure individual wealth within a country? Use the Big Mac Index to compare 2 countries then be prepared to explain your comparison. Lastly, what is one limitation of Purchasing Power Parity? Explain it.
Inflation
Watch the following video on inflation and answer the following questions:
1. What are the causes of inflation?
2. What are the effects of inflation?
3. How can inflation be prevented?
4. How is inflation controlled and who prevents it?
5. Would Adam Smith agree with how inflation is prevented?
1. What are the causes of inflation?
2. What are the effects of inflation?
3. How can inflation be prevented?
4. How is inflation controlled and who prevents it?
5. Would Adam Smith agree with how inflation is prevented?
Read the following link and this link and watch both videos about current rates of inflation in Canada. What effects does it have on individuals? Who is most affected and why? Then read this link on Gas and fuel prices. Look at the chart to the right and reflect on where money goes to and what effects it has on consumers.
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The Great Depression
Watch the following video about the great depression and take notes. Pick out the most important pieces of information from the video. What is the difference between a recession and a depression? What is an example of a recession? Explain.
Movie: In Time
Together we will watch the movie In Time. You will make a list of economic concepts that you see being used in the movie as you go. Write an example of them from the film. This is an exam question.
1. How is inflation demonstrated? 2. How is supply and demand demonstrated? 3. How is this society like ours? 4. What role does corporations play in the plight of the poor? 5. What should governments do to control inflation and help the poor? What happens in the movie? |
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