GDP Webquest: Complete for Monday 10/30

All work should be completed on the handout from class.  If you were absent you should print the form and complete for Monday.


http://www.sartell.k12.mn.us/sites/default/files/u197/Gross%20Domestic%20Product

Chapter Title: Measuring Domestic Output and National Income (Check table of contents for ch. #. My version is ch. 7)

Due Tuesday, 10/24


1.  Why is it important for the Bureau of Economic Analysis to compile GDP data quarterly?
2.  Explain and provide an example of each type of transaction included in GDP:
a.  Consumption
b.  Investment
c.  Government Purchases
d.  Net Exports
3.  Contrast planned investment and unplanned investment.


Get outdoors!




Due Wednesday, 10/25


1. What is double counting in terms of GDP? Why is it an important error to avoid?
2.   Explain and provide an example of each type of transaction excluded from GDP:
a.  Intermediate products
b.  Secondhand sales
c.  Transfer payments
d.  Nonmarket transactions
e.  Non-productive transactions
f.  The Underground Economy

Ch. 3 Assignment 1: Due tues 10/2

1.  Review both reasons D curve is downward sloping.
2.  Contrast normal goods and inferior goods.  Provide examples.
3.  Explain the income effect and substitution effect.
4.  Go outside!  it is a beautiful day.