Content Standard 18: Economic Fluctuations
Grade 8 Benchmarks

1. GDP is a basic measure of a nation’s economic output and income. It is the total market value, measured in dollars, of all final goods and services produced in the economy in one year.
2. GDP can be computed by summing household consumption spending, investment expenditures, purchases by federal, state, and local governments, and net exports.

Grade 12 Benchmark

1. An increase in nominal GDP may reflect increases in the production of goods and services and also increases in prices. GDP adjusted for price changes is “real GDP.” Real GDP per capita is a basis for comparing material living standards over time and among different countries.

• Economic Growth Online Module
• Economic Lowdown Audio Series—Gross Domestic Product (GDP)
• GDP and Pizza—GDP: What Is It? Online Module
• GDP and Pizza Online Module—GDP: Measurement and Growth
  
• GDP and Pizza Online Module—GDP: Policy
• Economic Lowdown Video Series—Gross Domestic Product