Economics – 5/16/14

I.  Bellwork: Q&A

Identify each as being included or not included in the GDP of the United States.

1. A car built in Michigan and shipped to Brazil
2. A car made by Ford in Mexico
3. TV made in China
4. Buying lunch at Fordson
5. A Toyota made in Tennessee
6. A partially completed house
7. A freeway

II. Objective

• Examine and discuss the components of GDP and alternative measures of determining economic growth.

III.  Chapter 9 & 10 Retake: Tuesday after school

• Bring a paragraph per section (5) – 9.1, 9.2, 10.1, 10.2, 10.3

IV.   Federal Budget Simulation (15 summative points)- Due Monday

V.   12-1 iLearn Quiz Today thru Monday @ 11:30 pm

VI. Discussion and Activity

• Video:What Is the Gross National Product?
• What is GDP?  Explained
• GDP Hunter (Review before you take the quiz)
• Robert F. Kennedy challenges Gross Domestic Product

VII.  Notebook:   Difference between GNP & GDP-

• Construct a Double Bubble illustrating the difference between GNP & GDP

VIII. Classwork

A. 12-1 Economics Guided Reading Activities

B. Page 321 Identify specific examples of products not included in GDP

• Intermediate (3)
• Secondhand (2)
• Nonmarket (3)
• Underground (3)

Economics W2014