Economics – 1/10/17

I.  Bellwork:

• SAT Reading Questions

II.  Objective

• Examine and discuss the components, merits, and shortcomings of GDP, as well as, alternative measures used to determine economic growth.
• Determine the central ideas or information and provide an accurate summary that makes clear the relationships among the key details and ideas.

III. Chapter 9 & 10 Retake: Tomorrow after school

1. 12-1 iLearn Quiz Today thru Thursday @ 9:30 pm
2. Discussion and Activity

• What is GDP?  Explained
• GNP & GDP Comparison
• GDP Background Notes

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

•  Video:What Is the Gross National Product?
• Robert F. Kennedy challenges Gross Domestic Product

VII. Notebook:
• Construct a Double Bubble illustrating the difference between GNP & GDP
• Construct a Tree Map – Limitations of GDP

VIII. Classwork

A.  Page 321 Explain specific examples of products not included in GDP:
• Intermediate (3)
• Secondhand (2)
• Non-market (3)
• Underground (3)

 

Economics F2016