Now that you know about GDP and how
to calculate GDP, use one of the web sites www.bea.gov and www.bls.gov
and do some research. In a 1-2 page paper, do the following:
- First, find GDP numbers for the U.S. China, India, and
- Second, find the level of consumption spending in the
U.S. economy for the past 40 years. Also do the same thing for gross
Investment spending, government spending, and net exports.
- Third, begin to think like an economist and analyze
what accounts for the GDP numbers of the U.S. China, India, and Turkey.
That is, which one of the four components of GDP did you find in your
research accounts for the growth rates of these nations? Also, what
accounted for the change in spending in the four components to GDP in the
U.S. economy for the past 40 years?
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