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Grade Level: 9-12 | PDF, 26 pgs.
Students will compute real Gross Domestic Product (GDP) and GDP per capita for three fictional countries and will answer questions related to actual data on GDP and GDP per capita. The Index of Economic Freedom will be used to compare and contrast the relationship between the degree of a country’s economic freedom and the total output of that country and its standard of living. Students will both map and rank a sample of countries using GDP, GDP per capita and freedom index data. From the Inside the Vault article, "Which Came First—Democracy or Growth?"
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Fed in Print: An index of the economic research conducted by the Fed.