Now that you know about GDP and how to calculate GDP, use one of the web sites listed in Module 01 including 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 Turkey.
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?