SS10.E.5

Social Studies (2010) Grade(s): 12 - Economics

SS10.E.5
Explain that a country’s standard of living depends upon its ability to produce goods and services.

Unpacked Content

Knowledge

Students know:

The four components of the expenditure approach to GDP.
How productivity is calculated.
How productivity can be increased.
The factors that lead to economic growth.

Skills

Students are able to:

Calculate GDP.
Use a GDP deflator to calculate real GDP.

Understanding

Students understand that:

The BEA categorizes the four components of the expenditure approach to GDP.
Investment leads to increased productivity and economic growth.
Increases in productivity lead to a higher standard of living
There are specific factors that lead to increased productivity.

Vocabulary

gross domestic product (GDP)
nominal GDP
real per capita GDP
GDP deflator
Bureau of Economic Analysis
productivity
input
output
Rule of 70

Aligned Learning Resources

Country Investigations using the Human Development Index

Design by Adaptive Theme