2. GDP?
• GDP: Total dollar value of all final goods and
services produced in a country during one
year
• U.S. has the highest G.D.P
3. GDP Per Capita?
• GDP per capita: Output per person
• It is another way to measure economic growth
• United States has the highest GDP per capita
4. Unemployment Rate?
• Unemployment Rate: Portion of people in the
labor force who are not working
• It is important because it is an economic
statistic of concern
• The unemployment rate for North Carolina is
8.2
5. Personal Income
• Personal Income refers to salaries and wages
as well as investment income and government
payments to individuals
• Examples: Paycheck and Pention
6. Productivity
• It is important to have high productivity
because it is a vital source of economic growth
which is an increase in output per worker.
• Improvements in capital resources (equipment
and technology), worker training and
management techniques can result in more
output per worker
7. Components of GDP
• Consumer spending for food, clothing,
housing, and other spending
• Business spending for buildings, equipment,
and inventory items
• Government spending to pay employees and
to buy supplies and other goods and services
• The exports of a country less the imports into
the country
