Unit 6: Lesson 33 - Gross Domestic Product (GDP) and How to Measure It
Students examine GDP. They distinguish between nominal and real GDP. They study how GDP is comprised of household spending on consumption goods and services (C), business investment spending (I), government spending on goods and services (G), and net exports (X-M). They participate in a simulation in which they classify economic events into the categories C, I, G, or (X-M), and predict whether the event will lead to an increase or decrease in GDP.
- Government Spending
- Gross Domestic Product (GDP)
- Net Exports
- Standard #18: Economic Fluctuations