Review Concepts:
- Measuring National Income (GDP)
- Circular flow of income
- Methods of Measurement
- Included/not included
Resources:
Khan Academy Video GDP (Measuring National Income)
Khan Academy Video - Components of GDP
Power Point GDP (National Income)
GDP Equation (Expenditure Method) Y = C+I+G+(X-M)
- C-Consumer Spending
- I-Business Investment
- G-Government Spending
- (X-M) Net exports
Classroom Activity:
- GDP Handout - Only do first two pages
- GDP Handdout Answers
Homework:
- None
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