Classroom Economist: GDP
Description Return to Resource List
- Classroom Economist: GDP
- Reserve Bank
This lesson introduces students to the basic concepts of gross domestic product (GDP). Students will participate in a vocabulary sort activity to assess prior knowledge of GDP and identify the basic components of the expenditure approach to calculating GDP. Using scenarios, students will demonstrate the impact of changes to the components of GDP on an economyâ??s output. Students will complete a strategy reading to identify concepts associated with GDP in the U.S. Bureau of Economic Analysisâ?? (BEA) national income and product accounts quarterly report on GDP for fourth-quarter 2011.
|gross domestic product GDP expenditure approach consumption durable goods nondurable goods services investment net exports imports exports government spending nominal GDP real GDP per capita GDP recession inflation|