Saturday, March 28, 2015

Marisa White chapter 9 question 7

I think in this chapter I just learned more about GDP as a whole. Before we watched that video in class I didn't really know anything about it. It seems like GDP would be very complicated to calculate, making it somewhat inaccurate. I think it was interesting that our GDP is about $14 trillion and the next largest single economy is China which there's being around $8 trillion.  And I think it is interesting that it has grown so much, twice from what it was in 1970 and 5 times from what it was in 1940. Which relates to what Kate blogged about, how we are becoming more productive and even though products have gotten more expensive it takes less work hours to acquire them.

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