Solow growth model 1. Production function(total; per capita) 2. Savings investment schedule 3. Depreciation 4. Steady state 5. Golden rule 6. Path from one steady state to the Golden Rule steady state
Introduction What are the three big problems macroeconomics studies? GDP -- Calculation: intermediate inventories;used;GNP Real v.s. Nominal (deflator; CPD) Okun'sLaw
Reporting the Results of Operations Information about net income is used by investors, creditors, and other financial statement users. Normal, recurring Unusual, nonrecurring revenue and expense events that affect transactions