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Watch the following videos: Watch the videos on GDP: GDP https://www.youtube.com/watch?v=yUiU_xRPwMc Nomimal vs Real GDP https://www.youtube.com/watch?v=29S7FzI7s7g Have you found something interesting in the videos. What

  • Watch the following videos:

Watch the videos on GDP:

GDPhttps://www.youtube.com/watch?v=yUiU_xRPwMc

Nomimal vs Real GDP https://www.youtube.com/watch?v=29S7FzI7s7g

  • Have you found something interesting in the videos. What is it?
  • What is the current figure for GDP? You can see that at bea.gov
  • GDP is broken down into several components. Which is the largest one? Find the graph that shows this using fred.stlouisfed.org
  • What is the difference between real and nominal GDP and which one do you think that is a better measure of economic growth?
  • What are some economic activities that are not included in GPD? Why does GPD not account for all economic activity in a country?
  • What can the government do to increase GDP?
  • What is GNP? Graph it using fred.stlouisfed.org
  • What happens if consumer spending is reduced?
  • Provide examples of items that count as part of GDP in the following categories

Consumption

Investment

Government

Net exports

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