GDP or Gross Domestic Product
is the total value of all final
goods and services produced in
a country during one year.
The United States has the
GDP Per Capita is another way to measure
economic growth, is the output per
An increase in GDP per capita means that
an economy is growing. A decrease may
mean that an economy has trouble
GDP / Population = GDP Per Capita
United States has the highest GDP.
The unemployment rate is the portion of
people in the labor force who are not
Significant because the people that do not
work, cannot maintain themselves and
then there is poor people and the
government has to help them.
Unemployment rate for North Carolina is
Refers to the salary and wages as well
as investment income and government
payments to individuals.
Carla is going to go to her office work
because she wants her salary so she
can make a party for her daughter. The
money they are going to pay to her is
her personal income.
When you have been saving money so
you can go to visit your friend in
Europe. The money you have been
saving is your personal income.
Components of GDP
Consumer spending for food, clothing,
housing, and other spending.
2. Business spending for buildings,
equipment, and inventory items.
3. Government spending to pay employees
and to buy supplies and other goods and
4. The exports of a country less the
imports into the country.