Slide 10 Leader: GDP Economics: GDP as an Economic Indicator Why GDP and not GNP? What is Gross Domestic Product (GDP)? How is GDP related to a nations total income and spending?…

Slide 1 Slide 2 SSEMA1, SSEMA2, SSEMA3- EOCT Review Slide 3 SSEMA1-A.The Components of GDP  Recall: GDP is total spending.  Four components: Consumption ( C ) Investment…

Slide 1 0 A thinker to get us started…  What is inflation?  A problem with GDP: Every year, inflation causes prices of goods & services to rise, so GDP rises…

Government Government Gross Domestic Product (Part 2) Real versus Nominal GDP Inflation can distort economic variables like GDP, so we have two versions of GDP: One is corrected…

SSEMA1, SSEMA2, SSEMA3-EOCT Review SSEMA1-A.The Components of GDP Recall: GDP is total spending. Four components: Consumption (C) Investment (I) Government Purchases (G)…

Measuring a Nation’s Income In this chapter, look for the answers to these questions: · What is Gross Domestic Product (GDP)? · How is GDP related to a nation’s total…