ECON 545 Week 4 Discussion; GDP and Economic Growth

Week 4 Discussion GDP and Economic Growth This discussion is a great opportunity to learn about one of the most fundamental aspects of our economy—the Gross Domestic Product (GDP). The GDP is the total value of final goods and services (output) the economy produces during a given period of time. To gain a better understanding of GDP and how countries become wealthy, please review the following informative video. Productivity and Growth To learn about the GDP in the real world and to answer the discussion questions, follow the steps below to obtain data from the Bureau of Economic Analysis. Go to bea.gov. Click on the Tools tab (on the top).