| The basic concept of Gross Domestic Product is found in the lesson link below. Along with explaining the definition of GDP, this lesson gets into the difference between a stock and a flow concept; a student-interactive business cycle; the difference between nominal and real GDP, the difference between current and constant/chained dollars; a student-interactive method of remembering the components of GDP; a student-interactive formula for the GDP Price Deflator or Implicit Price Deflator; and a lesson about items NOT included in GDP. Here is the lesson link: |
