Economics – 1/06/2016

I.  Bellwork:

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

II.  Objective:

• Examine factors that contribute to income inequality and programs that have been implemented to reduce poverty.
• Integrate and evaluate multiple sources of information presented in diverse formats and media in order to address the problem and impact of income inequality in American society.

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. Clothes bought at a resale shop
3. Limousine service for homecoming
4. Money from illegal gambling
5. Washing your dishes
6. A car made in Detroit and sold in Canada
7. A processor to make a new computer
8. The U.S. Gov’t buying a Russian helicopter

IV.  What does GDP tell us?

A.  Flow Map

V.  Discussion – Poverty & Income Disparity

• The 99%
• Wealth Inequality in America
• Poverty rate Guidelines

VI.  iLearn 12-1 Quiz – Ends tomorrow @ 9:30 pm

VII.  Classwork

• Page 345 Review 2-7 Q&A
• P. 337 Vocabulary (12)

Economics F2015