colin o'dowd period 3 chapter 2 powerpoint
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Colin O'Dowd Chapter 2 Period 3 2/6/09TRANSCRIPT
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Colin O’Dowd
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GDP is the total dollar value of all final goods and services.
US has the highest GDP
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GDP per Capita is output per person US has the highest GDP per Capita
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US unemployment is 7.6%. This is very low because millions are out of work and cant afford to pay for their needs.
NC unemployment is about 6.1%
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Personal Income refers to salaries and wages as well as investment income and government payments to individuals.
A persons salary plus profits from stocks A elderly persons savings and pension
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It is important to have high productivity because you need to fulfill all of the peoples needs and wants.
A high productivity will be influence by personal income and GDP
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Consumer spending for food, clothes, houses, and others
Business spending for buildings, equipment, and other
Government spending on employees, resources, and supplies
Exports of a country are more than the imports.