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. GDP per capita measures output per person and the U.S. also has the highest GDP per capita. The unemployment rate in North Carolina is 7.9%, which refers to the percentage of the labor force that is not working. Personal income includes salaries, wages, investment income, and government payments to individuals. Productivity is important for economic growth and can be improved through capital resources, worker training, and management techniques. The four components of GDP are consumer spending, business spending, government spending, and net exports.

1. Chapter 2 Slideshow By: Kelsey Winchester 3 rd block

2. GDP 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 GDP

3. GDP Per Capita GDP per capita is another way to measure economic growth. It describes the output per person. The U.S. has the highest GDP Per Capita.

4. Unemployment Rate The unemployment rate is the portion of people in the labor force who are not working. The NC employment rate is 7.9.

5. Personal Income Personal income refers to salaries and wages as well as investment income and government payments to individuals. Ex: 1. A father getting his paycheck from Cisco. 2. A teenager getting her salary after a week of working at Panera.

6. Productivity It is important to have higher productivity because it is a vial source of economic growth, which is an increase in output per person. Improvements in capital resources (equipment and technology), worker training, and management techniques can improve productivity.

7. 4 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.