Gdp
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Transcript of Gdp
Avery TrendelBlock 3
GDP or Gross Domestic Product is the total dollar value of all final goods and services produced in a country during one year.
The United States has the highest GDP in the world.
GDP per capita is calculated by dividing GDP by the total population.
The United States has a GDP per capita of $36,000 making it the highest in the world.
The current U.S. unemployment rate is at 7.6%
The rate in North Carolina is about 7.9%
This is important because these people do not have jobs! They are not making money for their families!
Personal income refers to salaries and wages as well as investment income and government payments to individual.
Examples are salaries and getting money from the stock market
It is important to have higher productivity because more work will get done which means more income comes in.
Technology, efficient work methods, training, and the overall skill of workers improves productivity.
Consumer spending for food, clothing, housing, and other spending.
Business spending for buildings, equipment, and inventory items
Government spending to pay employees and to buy supplies and other goods and services
The exports of a country less the imports into the country
