Week 3 gross domestic product activity

Use the Week 3 GDP Activity Template [DOC] to complete your activity before uploading it to the submission area.

Instructions

You may use Google or the Strayer library page, Statistics, Surveys and Government Resources, to research the GDP as you complete the following:

1. Define GDP in your own words.
2. Report the current GDP in trillions of dollars.
3. Report the current federal debt in trillions of dollars.
4. Report the outlays for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
5. Report the revenues for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
6. Report the deficit for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
7. Report the debt held by the public for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
8. Discuss the conclusions drawn from the numbers collected and provide insight about the impact of the numbers on the American economy in a response that is at least five sentences in length