Web Activity 1

Log on to www.cia.gov. Under Quick Links, select "World Factbook," then select "Korea, North," and expand "Economy" to find the CIA's most recent estimate for GDP in North Korea. Based upon the information found at this site, answer these questions.

1. What is the value of North Korea's total output?
2. How much more "butter" could North Korea produce if it reduced the military share of its output from 14 percent to 6 percent?

Web Activity 2

Log on to The Bureau of Economic Analysis: http://www.bea.gov. Using the information from available links, identify and describe the latest estimates for:

1. Real GDP
2. Personal Income
3. International Trade in Goods and Services
4. US International Transactions

Web Activity 3

Do economists have a sense of humor? Check it out at "Jokes about Economists and Economics" http://netec.wustl.edu/JokEc.html.