GDP
The Total Market Value of a Country
What is Gross Domestic Product?
What are the four phases of a business cycle?
What is Expansion, Peak, Recession, Trough
What is economic growth?
increase in the production and consumption of goods and services.
𝒜𝓁𝓁 𝑜𝒻 𝒶 𝒞𝑜𝓊𝓃𝓉𝓇𝓎
𝑀𝒶𝓇𝓀𝑒𝓉 𝒱𝒶𝓁𝓊𝑒 𝒾𝓃 𝒯𝑜𝓉𝒶𝓁
𝒜 𝒮𝓊𝓂 𝐼 𝐵𝑒𝒸𝑜𝓂𝑒
What is GDP?
How often is GDP measured in the United States?
What is Quarterly?
What is it called when a nations GDP is increasing back to potential?
What is a Recovery
Why is economic growth important
it reduces poverty and improves quality of life
𝐼𝓃 𝒮𝓅𝓇𝒾𝓃𝑔 𝐼 𝓇𝒾𝓈𝑒 𝓌𝒾𝓉𝒽 𝓉𝒽𝑒 𝓈𝓊𝓃 𝓉𝑜 𝒷𝓁𝑜𝑜𝓂 𝒾𝓃 𝒮𝓊𝓂𝓂𝑒𝓇
𝐼𝓃 𝒜𝓊𝓉𝓊𝓂𝓃 𝓂𝓎 𝒷𝓇𝒶𝓃𝒸𝒽𝑒𝓈 𝒷𝑒𝑔𝒾𝓃 𝓉𝑜 𝓌𝒶𝓃𝑒 𝒶𝓃𝒹 𝓌𝒾𝓉𝒽𝑒𝓇
𝒥𝓊𝓈𝓉 𝓉𝑜 𝓅𝓁𝓊𝓂𝓂𝑒𝓉 𝓉𝑜 𝑀𝓎 𝒟𝑜𝑜𝓂 𝒾𝓃 𝒲𝒾𝓃𝓉𝑒𝓇
𝒜𝓃𝒹 𝓌𝒾𝓉𝒽 𝓉𝒽𝑒 𝓇𝒾𝓈𝒾𝓃𝑔 𝑜𝒻 𝓉𝒽𝑒 𝓈𝓊𝓃,
𝑀𝓎 𝓈𝓉𝓇𝑒𝓃𝑔𝓉𝒽 𝓇𝑒𝓉𝓊𝓇𝓃𝓈 𝒾𝓃 𝒮𝓅𝓇𝒾𝓃𝑔 𝒶𝑔𝒶𝒾𝓃
𝒲𝒽𝒶𝓉 𝒜𝓂 𝐼?
What is the Business Cycle?
The Total Market Value of a country in context of the population
What is GDP per Capita?
When an economy shrinks by 10 or more percent
What is depression
What are some effects of economic growth?
Economic growth affects an economies efficacy to produce goods and services and creates more value of an economies goods and services
𝒪𝓃𝑒 𝐵𝓊𝒹 𝒾𝓃 𝒶 𝒯𝓇𝑒𝑒
𝒜𝓂𝒾𝒹𝓈𝓉 𝒶 𝒮𝑒𝒶 𝑜𝒻 𝒯𝒽𝑜𝓊𝓈𝒶𝓃𝒹𝓈
𝐻𝑜𝓌 𝓂𝓊𝒸𝒽 𝓌𝒾𝓁𝓁 𝒾𝓉 𝐵𝓁𝑜𝑜𝓂
What is GDP per Capita
What does PPP stand for?
What is purchasing power parity?
During what phase do businesses reevaluate their budget to prep for the next phase?
What are some benefits of economic growth?
More Employment opportunities, technological advances, improvement in living standards, living conditions, higher income, quality of life, also better schooling/education
𝒜 𝐵𝓊𝓈𝒾𝓃𝑒𝓈𝓈 𝐹𝒶𝓁𝓁𝓈
𝒟𝑜𝓌𝓃𝓉𝓊𝓇𝓃 𝒾𝓃 𝒜𝒸𝓉𝒾𝓋𝒾𝓉𝓎
𝒥𝓊𝓈𝓉 𝒶 𝒻𝑒𝓌 𝑀𝑜𝓃𝓉𝒽𝓈 𝒯𝒾𝓂𝑒
What is Recession?
Name one of the elements of the GDP equation
What is Consumption, Government Spending, or Net Exports?
What is it called when actual output is lower than potential output?
What is the negative output gap
What are some negative affects of economic growth?
negative effects of economic growth are: increased pollution, depletion of natural resources, health challenges, population growth concerns
𝒮𝒶𝓂𝑒 𝒜𝒸𝓇𝑜𝓈𝓈 𝒩𝒶𝓉𝒾𝑜𝓃𝓈
𝒲𝒾𝓁𝓁 𝒫𝓊𝓇𝒸𝒽𝒶𝓈𝑒 𝐼𝓉𝑒𝓂𝓈 𝑜𝒻 𝒲𝑜𝓇𝓉𝒽
𝒞𝓊𝓇𝓇𝑒𝓃𝒸𝓎 𝒟𝒾𝒻𝒻𝑒𝓇𝑒𝓃𝓉
What is Purchasing Power Parity?