1. ECONOMICS: March 21 Warm-up
Why is analyzing changes in real GDP a better measure of how the economy is performing vs. analyzing changes in nominal (current) GDP? Economics 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.
Conclude 12-1 (Day 2) Student Lesson Guide (HO from yesterday) (TURN IN)
--Aggregate Expenditures Formula (C + I + G + (X-M))
--”Closure”
--GDP group assignment (HO) (TURN IN)
Assignment
--read Ch. 12, Lesson 3