In what year was the nominal wage increase completely erased by inflation?

Given the table above, what is the CPI value for 2003?

Consider 2002 to be the base year.

What was the real wage in 2004?

GDP does not include production that is not monetized, or transacted in a market. Therefore, nature's ecological services such as cool air from large trees, or breathable air from forests, are not included in GDP. Actually, a dead tree is worth more in GDP than a living one, since it is sold as lumber and paper products.

What could we do to measure the importance of ecological services so that we don't cut all the trees who provide us with clean and cool air?

Use the carbon calculator to measure your production of CO2, given your personal consumption habits.

https://www.carbonfootprint.com/calculator.aspx

Discuss what surprises you about this number and what you, and all of us, can do to reduce our carbon imprint.

Match the item with the type of GDP measurement.

Match the definition with the keyword.

What word holds this meaning?

the number relates to final goods and services.

What word holds this meaning?

the number relates to production that takes place inside a state, province or country.

What word holds this meaning?

the number includes the total sales of the economy, before taking out particular accounts such as the depreciation of assets such as inventories, real estate, factories, and physical capital (machine replacement due to wear).