GDP WebQuest
Visit the following websites below and type your answers in the boxes provided.
GDP Overview
Click on the following website: http://www.cliffsnotes.com/more-subjects/economics/gdp-inflation-andunemployment/gdp
Answer the following questions:
1. What is the difference between GDP and GNP?
2. What is excluded from GDP that is included in GNP?
3. List the two ways to measure GDP.
4. Why aren’t intermediate goods counted in the
calculation of GDP? What would it lead to?
5. Which component of GDP constitutes the largest
percentage of U.S. GDP?
6. List the examples of government expenditures.
7. What is not included?
8. Describe the difference between exports and imports
9. How do we calculate net exports?
Go to the following website: http://www.investopedia.com/exam-guide/cfa-level-1/macroeconomics/limitations-gdpalternative.asp
Answer the following questions in order to describe some of the shortcomings of GDP:
1. How do economists treat nonmarket transactions as
they relate to GDP?
2. What are some examples mentioned?
3. What is meant by leisure time?
4. What is meant by the underground economy (“black
market”)?
5. Why is per capita GDP a better indication of the
economy’s well-being? Give an example.
Go to the following website: http://www.investopedia.com/exam-guide/cfa-level-1/macroeconomics/nominal-real-gdpdeflator.asp
1. Explain the difference between nominal and real gdp.
Go to the following website: http://www.investopedia.com/ask/answers/199.asp
1. What are the signs of a healthy economy?
2. What are the characteristics of a bad economy?
Go to: http://www.bea.gov/national/xls/gdplev.xls
1. What year does the bea currently link real GDP dollars to?
2. List the nominal and real gdp for the following years 4th quarter reports:
Nominal GDP (this is the column that
says “current dollars”)
1929
Real GDP (this is the column that says
“chained 2009 dollars”)
1933
1940
1950
1960
1970
1980
1990
2006
Go to: https://www.cia.gov/library/publications/the-world-factbook/, Based on the CIA World Fact Book (link above),
you can find the information to complete the table below.
First, choose the nation from the drop down list. There will then be several categories for that nation with “+” to the
right. Clicking a “+” drops down a list of information about that nation. Some of the categories are “People”,
“Economy,” “Geography,” etc. Find the section that corresponds to the information below. I’ve done the first two for
you.
Population
Look under
(People)
US
Japan
Germany
China
Switzerland
Zimbabwe
Cuba
GDP (2009)
(Economy)
GDP Per
Capita
Literacy Rate
Infant
Mortality
Rate
Education
Expense
(% GDP)
Life
Expectancy
Both
Genders(in
years)