Economics – 3/23/2016

I.  Bellwork:

• Claim statement – Do you believe GDP is a useful measure of the economy? Provide evidence with examples which supports your stance.       3-4 sentences

II.  Objective:

• Construct  a foldable describing and providing examples of the sector components of GDP.
• Create a claim statement supported by evidence and reasoning.

III. Review GDP Basics

A.  Which of the following would be included or excluded from the GDP and GNP of the United States?

1. Baking a cake for your mother
2. An Ikea store operating in Canton
3. Limousine service for homecoming
4. Money from illegal gambling
5. An engineer from India  working in the United States
6. A car made by GM in Detroit and sold in Canada
7. A processor to make a new computer
8. The U.S. Gov’t buying a helicopter from Russia
9. A McDonalds operating in Japan.

IV.  What does GDP tell us?

• Flow Map

V.  iLearn 12-1 Quiz –Tomorrow in class

VI.  Classwork

• GDP Foldable

Page 327 2-7 Q&A

Economics W2016