2. Gross Domestic Product Dollar value of every single good and service produced in an economy in a given year. GDP is probably the most important piece of information calculated by our government

3. GDP was $15.68 trillion USD (2012)and $16.633 trillion in 2013 and now at this point is at $16.8 trillion www.cnbc.com/id/102056652# Video clip about jobs created and our economy http://www.economist.com/blogs/graphicdetai l/2014/08/chinese-and-american-gdp-forecasts

6. C+I+G+(X-M) = GDP C= Consumer Spending I= Investments by business G= Government spending X= Exports M= Imports

7. Consumer spending is by far the largest of the four categories Goods and services produced for household consumption account for 2/3 of total output

8. In your groups: Make a list of the goods and services you used from the time you woke up yesterday until you went to bed last night. “Walk through” a typical day Combine information to create a group list- do not list items more than once

9. GDPs of the World http://data.worldbank.org/indicato r/NY.GDP.MKTP.CD http://data.worldbank.org/indicato r/NY.GDP.MKTP.CD