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.

4. GDP per capita is GDP divided by the population of a country.

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 standard of living over time and among different countries.

• GDP and Pizza Online Module
• GDP: Does it Measure Up? (Page One Economics®)
• Economic Lowdown Audio Series—Gross Domestic Product (GDP)
• Analyzing the Elements of Real GDP in FRED Using Stacking
• 10 FRED Activities in 10 Minutes