Lesson Review – Measuring the economy - LESSON REVIEW MEASURING THE ECONOMY MEASURING THE ECONOMY Economic Indicators GDP Unemploym ent Inflation This

Lesson Review – Measuring the economy - LESSON REVIEW...

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LESSON REVIEW MEASURING THE ECONOMY
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MEASURING THE ECONOMY Economic Indicators GDP This indicator measure the dollar value of all final goods and services produced within a country’s border. Unemploym ent This indicator measures the percentage of the U.S. labor force that wishes to work, but are currently without jobs. Inflation This indicator measures how rapidly the overall price level is changing in the U.S. economy.
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GDP This indicator measures the dollar value of all final goods and services produced within a country’s borders in a given year.
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GDP Nominal GDP The value of final goods and services evaluated at current-year prices Real GDP The value of final goods and services evaluated at base-year prices
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CALCULATING GDP GDP is measured by totaling the money spent on four major categories of goods and services: GDP = C+I+G+(X-M) GD P Consumer Spending Investmen t Spending Governme nt Spending Net Exports
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UNEMPLOYMENT This indicator measures the percentage of the U.S. labor force that wishes to work, but are currently without jobs.
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