What Happened This Week

   This week in class we learned about measuring economics. First we learned about GDP (Gross Domestic Product), which is the market value of all final goods and services. Economists calculate GDP by adding consumption, investments, government spending, and the difference between what we import and export. GDP is important because it indicates how well an economy is doing. We also learned about standard of living, unemployment rate, inflation, consumer price index, and national debt. To show the difference in these categories between different countries we filled out a chart. The chart showed major difference in the countries I chose but they all had one thing in common, a large amount of debt. In my opinion, countries spend too much on things that are unnecessary and that is contributing to debt. But the lack of peace in countries and mostly between countries is a huge cause of debt. Countries have to spend billions of dollars to provide military and equipment. Debt will eventually affect countries in a big way if they do not figure out a way to fix it.