GDP is the total value of all final goods and services produced in a country in one year. The United States has the highest GDP and GDP per capita at $36,000, which is calculated by dividing GDP by total population. Unemployment is measured as the percentage of the labor force that is without a job but seeking work, currently at 7.6% nationally and 7% in North Carolina. Personal income includes wages, investment returns, and government payments like Social Security. Productivity measures output per input and is increased by training, better equipment, and motivation. GDP components are consumer spending, business spending, government spending, and net exports.

1. Chris Sinkez Block 3 GDP is the total dollar value of all final goods and services produced in a country during one year The United States has the highest Chapter 2 Economic Activity

2. GDP Per Capita GDP per capita- is the Gross Domestic product per person GDP per capita is calculated by dividing GDP by the total population The United States has the highest GDP per capita at $36,000 dollars

3. Unemployment Unemployment is the portion of people in the labor force who are not working You are considered unemployed if you are looking for a job and willing to work The unemployment rate is 7.6% The North Carolina unemployment rate is 7 %

4. Personal income Personal income refers to salaries and wages as well as investment income and government payments to individuals examples A senior getting a social security check A doctor getting his pay check

5. Productivity Productivity- is the product output in relation to unit of input, such as a worker High productivity means more is getting done in a short amount of time which saves money and helps create more profit Training, upgraded equipment and good reason to work hard all increase productivity

6. GDP 1.consumer spending for food, clothing ,housing, and other spending 2. business spending for buildings, equipment, and inventory 3.governemtn spending to pay employees and to buy supplies and other goods and services 4. the exports of a country less the imports into the country