1. Warm Up
On a piece of paper, examine these pairs of words. Then
write a sentence explaining what each pair has in
common. To be turned in; you have 15 minutes.
1. Food stamps, Medicaid
2. Gross national product, net national product
3. Household, unrelated individuals
4. Intermediate products, secondhand sales
5. Underground economy, nonmarket transactions
6. Workfare, welfare
7. Life expectancy, dependency ratio
8. Demographer, center of population
9. Baby boom, population pyramid

2. National Output and Income
GDP GNP
-market value of all final goods, -market values of all final
services and structures goods, services, and structures
produced within a country’s produced in one year with labor
national borders in a year and prosperity supplied by a
-indicator of the condition of country’s residents
the nation’s economy -includes all payments to
-includes output of foreign- citizens, regardless of where the
owned firms located in the production takes place
United States -excludes income earned by
-includes only final products foreign-owned resources in the
country

3. Population
Fertility
Rate
Life Population Planning for
Expectancy Growth the Future
Net
Immigration

4. Poverty
Decline of Low-Paying
Unions Service Jobs
Lack of Access
to some Discrimination
Professions
Lack of
Unfavorable
Financial
Tax Laws
Resources
Lack of Shift to Single-
Education Poverty Parent Families

5. Bingo!
Words to use: Disposable Personal Income (DPI) Lorenz Curve
Macroeconomics Household Welfare
Unrelated Individual Food Stamps
Gross domestic product
Family Medicaid
Intermediate products Output-expenditure Model Census
Secondhand sales Net Exports of Goods and Services Enterprise Zone
Nonmarket transactions Earned Income Tax Credit (EITC) Workfare
Underground economy Urban Population Negative Income Tax
Rural Population
Base year
Center of Population
Real GDP Infrastructure
Current GDP Baby Boom
GDP per capita Population Pyramid
Gross National Product Dependency Ratio
(GNP) Demographers
Fertility Rate
Net National Product
Life Expectancy
(NNP)
Net Immigration
National Income (NI) Poverty Threshold
Personal Income (PI) Poverty Guidelines