1. Gross Domestic Product

2. Graphic source: tutor2u.com
GDP and PPP adjustments by Geoff Riley

3. Gross Domestic Product (GDP)
The market value of all final goods and services produced in a country in a calendar year.

4. In 2013, the GDP for the United States was about $15.6 trillion.
$15,684,800,000,000
Source: tradingeconomics.com

6. GDP is the total amount of money spent in the economy to buy goods and services.
The major spenders in the US economy are consumers, businesses, and government.

8. What portion of the GDP is accounted for by Consumer spending?
1/4
1/3
1/2
2/3

9. What portion of the GDP is accounted for by Consumer spending?

10. Economic growth rate
Shows the amount and direction of growth of an economy.

11. Formula for Calculating GDP
Formula:[(GDP for time 2 – GDP for time) / GDP time 1] x 100 = economic growth rate
Example: [($15.1 trillion - $14.5 trillion) / $14.5 trillion] x 100 = 4.1% economic growth rate

12. Shutterstock. (n. d. ) Photos. Retrieved from http://www. shutterstock