FIN 100 DUE 1/20 GROSS DOMESTIC PRODUCT ACTIVITY

Question

Your Response (Type your responses to each question below.)

1. In your own words, what does GDP stand for? What is it?

2. Using Google or any other search engine, report the current GDP. The number you are looking for is in trillions of dollars.

Example: 2.1 Trillion

3. Using Google or any other search engine, report the current Federal debt in trillions of dollars.

Example: 2.1 Trillion

4. Using Google or any other search engine, report the bottom line of the current (latest) budget approved by Congress in trillions of dollars (surplus or shortage). Note that the fiscal year for the federal government is October 1 – September 31.

For this question, please report Outlays.

Example: 2.1 Trillion

5. Using Google or any other search engine, report the bottom line of the current (latest) budget approved by Congress in trillions of dollars (surplus or shortage). Note that the fiscal year for the federal government is October 1 – September 31.

For this question, please report Revenues.

Example: 2.1 Trillion

6. Using Google or any other search engine, report the bottom line of the current (latest) budget approved by Congress in billions of dollars (surplus or shortage). Note that the fiscal year for the federal government is October 1 – September 31.

For this question, please report The Deficit.

Example: 2.1 Billion

7. Using Google or any other search engine, report the bottom line of the current (latest) budget approved by Congress in trillions of dollars (surplus or shortage). Note that the fiscal year for the federal government is October 1 – September 31.

For this question, please report The debt held by the public.

Example: 2.1 Trillion

8. What inference can you draw from the numbers collected? How do the numbers impact the American economy? (Explain in 5 sentences – a short essay)