U.S. and World Economies September 19, 2017

Identify the Country (2016 Data) Country A—GDP $18.6 trillion Country B—GDP $11.2 trillion Country C—GDP $4.9 trillion Country D—GDP $3.5 trillion It measures the size of a nation’s economy. What does Gross Domestic Product (GDP) measure?

Country D is Germany GDP $3.5 trillion GDP per capita $41,902 (17th) GDP annual growth rate 1.8 % Which of the three data points is the best measure of national prosperity? Why? GDP $3.4 trillion GDP per capita $39,100 (26th) GDP annual growth rate 0.7 % GDP per capita because it measures the size of the economy relative to the size of the population.

Country C is Japan GDP $4.9 trillion GDP per capita $32,486 (20th) GDP growth rate 1.0 % GDP $6.0 trillion GDP per capita $36,200 (36th) GDP growth rate 2.0 %

Country B is China GDP $11.2 trillion GDP per capita $8,113 (70th) GDP growth rate 7.8 % GDP $11.2 trillion GDP per capita $8,113 (70th) GDP growth rate 6.7 %

Chinese Growth Rate

Country A is the United States GDP $15.7 trillion GDP per capita $49,800 (12th) GDP growth rate 2.2 % GDP $18.6 trillion GDP per capita $57,436 (7th) GDP growth rate 1.6 % The countries ahead of the United States are Luxembourg, Switzerland, Norway, Macau, Ireland, Qatar, and Iceland.

World Economies

Worldwide Per Capita Income

Worldwide GDP Growth Rate

What You Have Learned What are the world’s four largest economies? Of the four largest economies, which has the highest GDP per capita? Which economy is growing the most rapidly? Which regions/countries of the world are the most affluent? Which regions/countries of the world are growing most rapidly/most slowly?