Before this series of clips and articles I knew very little of GDP other than what the letters stood for. After these readings and clips I feel more confident in my knowledge of what GDP is. I think in times of economic stress like we are going through right now it is more important to have some knowledge of what GDP is. Knowing what GDP and other statistics like it are in times like these can help you stay more in tune with whether the economy is trending up or down.
Another important thing that I didn't know about GDP was how it relates to each one of us. Year after year the US produces a huge number for GDP but I didn't know how it relates to each of us US citizens. The GDP per capita is a very important aspect of GDP because it shows approximately how much we are all making per year and how those who are in less favorable financial situations are involved.
I didn't realize before these readings and clips what GDP was and what its importance to us is. I knew what it stood for but I did not know what its application to our country and to each of us individually was. After these articles I feel comfortable with what GDP and I have a better understanding of how it applies to everyone and our everyday lives. It is important in times like this where the economy is struggling to be more in tune with what is going on on a larger scale in the country and learning more about GDP has helped me do that.
http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_mktp_cd&idim=country:USA&dl=en&hl=en&q=gdp
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