Real versus nominal value

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Topic: Real versus nominal value

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	Old Whig's Brain Dump: 11/01/2004 - 11/30/2004
		Barbon's book has almost the organization of a modern economics textbook: the definition of goods, real versus nominal values, exchange, trade, applications!
		From Barbon, consider the chapters illustrating benefits of free trade, the ease of slipping into trade wars, and money versus credit.
		Interesting how close people were to the concepts of subjective value and marginal utility for thousands of years without truly discovering them.
	oldwhig.blogspot.com /2004_11_01_oldwhig_archive.html (10979 words)

	CHAPTER 8
		GDP or income is not a perfect measurement of economic well-being and was not designed to provide one. The basis of NIA, the circular flow of income and product model, is introduced. Then the concepts of real versus nominal values is presented. Finally, inter-country comparisons of GDP are shown.
		National income is equal to the money value of national (final) output.
		Understand the limitations of using GDP as a measure of national welfare.
	www.colostate.edu /Dept/Econ/courses/intro/204widner-4/8.htm (369 words)

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Topic: Real versus nominal value

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In the News (Tue 7 Oct 08)