11/6/13 Current Event

This week we have taken notes on measuring economic activity with G.D.P. and business cycles with its four stages and what caused the Great Depression.  G.D.P. stands for gross domestic product.  It is the market value of all final goods and services produced within a given period.  A good or service must be a final good, be produced during the time period, and be produced within a nation's borders.       Read this blog.                          I think you'll like it.                                              We figure the G.D.P. because it is an indicator of how well the economy is doing. The business cycle is always rising or declining on its way to the other. We go through times of prosperity, recession, depression, and recovery. Today we are thought to be going into a stage of recovery. The Great Depression was, as the name tells, a depression. Caused by farmers going into debt from buying mechanical utilities for farming and America's weak banking system, it was a time of worldwide economic depression from October 29, 1929 to 1933.

By the way, the cross country states meet is this Friday.  The entire team would love to be safe and win.  Please keep us in your prayers.  Have fun watching the Shark Tank episode or whatever you do.

Why do melons always have big weddings?                                                

I obtained all of the information on this page from my brain and my notes from Ms. Weser's economics class.