Web Activity 1

Access the U.S. Department of Commerce's Bureau of Economic Analysis at http://www.bea.gov/ and access the most recent press release to find the dollar value of nominal GDP for the most recent quarter available. What was the GDP growth rate for that period? Break the number down into its four components—consumer spending, business investment, net exports, and government spending—estimate each component's contribution to the overall growth rate.

Web Activity 2

The United Nations Human Development Index (http://hdr.undp.org/statistics/data/indic/indic_12_1_1.html) ranks countries by GDP per capita and by "human development" based on health, education, and income. Access the most recent Human Development Index and find the U.S. ranking. Why isn't the U.S. ranked higher on this index? Where do we perform poorly? (Hint: Access the other reports and find the U.S. values for areas included in the Human Development Index).

Web Activity 3

Record the values of Real and Nominal GDP since 1985. What accounts for the difference in these two numbers? To find these numbers log on to http://www.eh.net/hmit/gdp/ and access the most recent data on Real and Nominal GDP.