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Chapter 2 Measuring economic activity

Chapter 2 Measuring economic activity. 1.02 ~ Economic activities and conditions. GROSS DOMESTIC PRODUCT (GDP). The total dollar value of all final goods and services produced in a country during one year. http:// www.bbc.co.uk/news/business-13200758. Components of GDP. NOT Included in GDP.

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Chapter 2 Measuring economic activity

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  1. Chapter 2Measuring economic activity 1.02 ~ Economic activities and conditions

  2. GROSS DOMESTIC PRODUCT (GDP) • The total dollar value of all final goods and services produced in a country during one year. • http://www.bbc.co.uk/news/business-13200758 Chapter 2

  3. Components of GDP Chapter 2

  4. NOT Included in GDP Chapter 2

  5. GDP per capita

  6. LABOR ACTIVITIES Chapter 2

  7. Labor Activities ~ Employment Chapter 2

  8. Labor activities ~ Productivity Chapter 2

  9. CONSUMER SPENDING Chapter 2

  10. CONSUMER SPENDING Chapter 2

  11. >> C H E C K P O I N T • Unemployment/GDP mapping activity. • You are to label the blank US map with the following information: • Unemployment rate per state • GPD per capita per state • Answer the following question based on your map: • What correlation can you see between the unemployment rates and the GDP per capita? Chapter 2

  12. LESSON 2-2Economic Conditions Change Goals • Describe the four phases of the business cycle. • Explain causes of inflation and deflation. • Identify the importance of interest rates. Chapter 2

  13. THE BUSINESS CYCLE • Our economy has its ups and downs; seems to run in cycles • Good times Bad times Good times • This movement of the economy from one condition to another and then back again is called a Business Cycle. • Four phases Chapter 2

  14. Prosperity • Employment rate and demand for products and services are high. • Businesses continue making profits. • Recession • Unemployment rate is increasing and demand for products and services are lowering. • Businesses must strategize to stimulate demand for products & services. • Recovery • Unemployment rate is lowering and demand for products and services is increasing. • Business may increase human capital. • Depression • Unemployment rate is high and demand for products and services is lowering. • Businesses try to maintain profits or break even to avoid going out of business.

  15. CONSUMER PRICES Chapter 2

  16. Chapter 2

  17. LESSON 2-3Other Measures of Business Activity Chapter 2 Goals Discuss investment activities that promote economic growth. Explain borrowing activities by government, business, and consumers. Describe future concerns of economic growth.

  18. Investment Activities Chapter 2

  19. Investment Activities, cont’d. Chapter 2

  20. Personal Savings Chapter 2

  21. The Stock Market Chapter 2

  22. The Bond Market Chapter 2

  23. Government Debt Chapter 2

  24. Government Debt, cont’d. Chapter 2

  25. Decision-Making Chapter 2

  26. >> C H E C K P O I N T Chapter 2 What is the cause of a budget deficit?

  27. FUTURE ECONOMIC CHALLENGES Chapter 2

  28. >> C H E C K P O I N T Chapter 2 What are future economic concerns for a country’s economy?

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