GDP: Does It Measure Up? (Page One Economics)
How is the total value of all the goods and services produced in a country's economy measured? Gross domestic product (GDP) is one common and fairly comprehensive measure. The May 2013 issue explains GDP components and how GDP is calculated. It also describes what GDP does—and does not—measure.
Graphs compliments of FRED.
Teachers: Visit the Reading Q&As in our Econ Lowdown Teacher Portal to find the teacher edition for this issue, to assign an online version of the student materials and to collect student scores on the questions. The materials are still free—but having them in the portal keeps students from accessing the answer key.
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