What is GDP?

Click on the title and go to the Principles of Macroeconomics website. Watch the first 4 videos, all about GDP. You will become an expert on GDP. Post a question from one of the videos, come up with your own question, don't just copy one from the practice quizzes. In your post, start by listing the GDP of another country, give your answer to someone else's question, and then write your own question. Example:
Country - USA GDP $16.77 Trillion
Johnny's Question - What is GDP?
My answer - The market value of all  final goods and services produced in a country in a given year.
My question - What is an intermediate good?
(ps you don't need a visual for your answer)

Take it from there:

The GreatestTrick Capitalism Ever Played

As we are currently studying supply and demand, here is a good article about how businesses increase demand by appealling to consumer tastes. Read the article and leave your comments (50-100 words). Since there are two articles this week only comment on one of them. p.s. don't write on how much you love pumpkin spice, stick to the business end  of creating demand.

A Course Load for the Game of Life

Greg Mankiw is a professor of Economics at Harvard University. He has written an introductory Economics textbook that is widely used in AP courses around the nation. He has served on the Presidents Council of Economic Advisors, and is a real star in our field. In this New York Times article, he spelled out his advice for the college bound. Read the article and leave your comments. Do any of his points hit home for you? Remember no copying your fellow student's comments.

It's a Small World After All

Here is a great quote about the interrelatedness of the global economy, and it comes not from a famous economist but from someone you all know. 

"Did you ever stop to think that you can’t leave for your job in the morning without being dependent on most of the world? You get up in the morning and go to the bathroom and reach over for the sponge, and that’s handed to you by a Pacific islander. You reach for a bar of soap, and that’s given to you at the hands of a Frenchman. And then you go into the kitchen to drink your coffee for the morning, and that’s poured into your cup by a South American. And maybe you want tea: that’s poured into your cup by a Chinese. Or maybe you’re desirous of having cocoa for breakfast, and that’s poured into your cup by a West African. And then you reach over for your toast, and that’s given to you at the hands of an English-speaking farmer, not to mention the baker. And before you finish eating breakfast in the morning, you’ve depended on more than half the world. This is the way our universe is structured, this is its interrelated quality." Martin Luther King, 1967 

Your assignment this week is to find 5 items that you use in your everyday lives and determine where they are produced. Look on the bottom for the "Made in ..." stamp. 
List the items and the country where they are made. Be creative. You'll be surprised at the journey that some of these common items have made to get into your hands.

The American Worker

In honor of Labor Day, click on the title link and read this article about the American worker and leave your comments. "American workers stay longer in the office, at the factory or on the farm than their counterparts in Europe and most other rich nations, and they produce more per person over the year." Is the price of being the worlds number one economy too high. Your comment needs to be a minumum of 50 words.