1. 1. Calculate the GDP for Portugal in
2008. (in millions)
Bellringer
Consumers spent: $90,000
Investment: $40,000
Exported $50,000
Imports $90,000
Government: $10,000
2. What is their GDP per capita? Portugal: 10 million people
Currency: Euro
3. If the US GDP per capita is $49,000
and Mexico’s is $9,700, is Portugal
rich or poor? (explain)

2. Portugal

7. The Business Cycle
• Changes in GDP over time
prosperity
recovery

8. Recession
• 6 + months of negative GDP growth
• 3 Causes?
Prosperity
• 6+ months of positive GDP growth
• 3 causes?

14. GDP Change Assignment
1. Which part of the GDP formula is the largest? (It’s the part
you are the most involved in)
2. How many recessions has Argentina had since 1900?
3. When was their worst one?
4. Why are recessions good for selling used and generic items?
5. Is the USA still in a recession? (GDP 1.7% last qtr)
6. Calculate US GDP 2010
Consumers: $12 trillion
Investment: $1.5 trillion
Government: $2 trillion
Exports: $1 trillion
Imports: $2 trillion
6. Describe US
Trade (net….?)

15. GDP Change Assignment
1. Which part of the GDP formula is the largest? (It’s the part
you are the most involved in)
2. How many recessions has Argentina had since 1900?
3. When was their worst one?
4. Why are recessions good for selling used and generic items?
5. Is the USA still in a recession? (GDP 1.7% last qtr)
6. Calculate US GDP 2010
Consumers: $12 trillion
Investment: $1.5 trillion
Government: $2 trillion
Exports: $1 trillion
Imports: $2 trillion
6. Describe US
Trade (net….?)

16. GDP Change Assignment
1. Which part of the GDP formula is the largest? (It’s the part
you are the most involved in)
2. How many recessions has Argentina had since 1900?
3. When was their worst one?
4. Why are recessions good for selling used and generic items?
5. Is the USA still in a recession? (GDP 1.7% last qtr)
6. Calculate US GDP 2010
Consumers: $12 trillion
Investment: $1.5 trillion
Government: $2 trillion
Exports: $1 trillion
Imports: $2 trillion
6. Describe US
Trade (net….?)

17. GDP Change Assignment
1. Which part of the GDP formula is the largest? (It’s the part
you are the most involved in)
2. How many recessions has Argentina had since 1900?
3. When was their worst one?
4. Why are recessions good for selling used and generic items?
5. Is the USA still in a recession? (GDP 1.7% last qtr)
6. Calculate US GDP 2010
Consumers: $12 trillion
Investment: $1.5 trillion
Government: $2 trillion
Exports: $1 trillion
Imports: $2 trillion
6. Describe US
Trade (net….?)

18. GDP Change Assignment
1. Which part of the GDP formula is the largest? (It’s the part
you are the most involved in)
2. How many recessions has Argentina had since 1900?
3. When was their worst one?
4. Why are recessions good for selling used and generic items?
5. Is the USA still in a recession? (GDP 1.7% last qtr)
6. Calculate US GDP 2010
Consumers: $12 trillion
Investment: $1.5 trillion
Government: $2 trillion
Exports: $1 trillion
Imports: $2 trillion
6. Describe US
Trade (net….?)

19. GDP Change Assignment
1. Which part of the GDP formula is the largest? (It’s the part
you are the most involved in)
2. How many recessions has Argentina had since 1900?
3. When was their worst one?
4. Why are recessions good for selling used and generic items?
5. Is the USA still in a recession? (GDP 1.7% last qtr)
6. Calculate US GDP 2010
Consumers: $12 trillion
Investment: $1.5 trillion
Government: $2 trillion
Exports: $1 trillion
Imports: $2 trillion
6. Describe US
Trade (net….?)

20. Unemployment types Assignment
1. Divide your paper into fourths
2. Draw a picture or comic to show the four types
of unemployment
3. On the back of the paper, write a few
sentences on how you will guard yourself
against each type of unemployment
• Quantitative Easing: find an article on one of
the unemployment types, cite it and
summarize its findings.