A macroeconomic worksheet on Gross Domestic Product requiring students to:
1. Calculate GDP using the Value-Added Approach, Income Approach, and Expenditure Approach in order to understand how and why GDP should be the same no matter which method is used.
2. Discriminate between whether or not a product or activity would be included in a country's GDP for a given year.
3. Calculate GDP using the income and/or expenditure accounts for a hypothetical country.
4. Identify which component of overall expenditures would be affected as a result of a change in spending behavior.
5. Investigate situations in which GDP does not provide a perfect measure of economic activity.