CHAPTER 2.4 Gross Domestic Product. Most economists view the country like one big business They...
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CHAPTER 2.4 Gross Domestic Product. Most economists view the country like one big business They measure the success of this business through gross domestic
Most economists view the country like one big business They
measure the success of this business through gross domestic product
or GDP GDP- The total money value of goods and services produced by
a nation annually
Slide 3
Gross Domestic Product GDP is measured by adding together the
total amount of money spent in four areas U.S. Consumers Government
Businesses U.S. Exports Foreign Imports C+G+B+Ex-Im=GDP
Slide 4
Gross Domestic Product The economy of the United States is the
world's largest national economy. United States GDP (current US$)
$16.80 trillion 2013 Population (Total) 316.1 million 2013
Slide 5
Top Ten GDP Globally United States16,800,000,000,000
China9,240,270,452,050 Japan4,901,529,519,266
Germany3,634,822,579,319 France2,734,949,064,749 United
Kingdom2,522,261,112,322 Brazil2,245,673,032,354
Russia2,096,777,030,571 Italy2,071,306,890,125
India1,876,797,199,133
Slide 6
Assignment 1. How do economists measure a countrys success? 2.
What four areas are used to calculate GDP? 3. What is the equation
used to calculate a nations GDP? 4. What is the US GDP as of 2013?
5. How does the US rank in GDP compared to the next 10
nations?
