1. ECONOMICS: October 24
Warm-up Give an example of the following (items that would NOT be included in GDP): 1. an intermediate product; 2. a secondhand sale; and 3. a non-market transaction. Would a Social Security check count in GDP? Why or why not? Learning Target In order to understand the economic and social well-being of the U.S., I will be able to analyze how the government measures how changes in GDP growth in the U.S. and the rest of the world impact consumer income. I know I have it when I can: (1) determine whether an activity counts in GDP; (2) list and analyze the components that make up the GDP; and (3) calculate real GDP given nominal GDP data.
Follow along with 12-1 (Day 1) Student Lesson Guide (HO from Tue.) Gross Domestic Product (GDP) --nominal vs. real GDP Follow along with 12-1 (Day 2) Student Lesson Guide (HO) --current GDP vs. per capita GDP
What is GDP (Review and Preview) (4:10) --what GDP does not tell us --Aggregate Expenditures Formula (C + I + G + (X-M))
Closure see bottom of last page of 12-1 (Day 2) HO Assignment Read Ch. 12, Lesson 3