Teacher: R Crawford
Lesson: APE 7.5 Reinforcement of National Income Accounting
Textbook: pp. 288-289
Objectives: Students should be able to determine GDP and GNP given specific numerical National Income Data and to determine the GDP gap using Okun's Law
Concepts: Expenditures Formula
Income Formula
Labor Force
Actual Unemployment
Frictional Unemployment
Cyclical Unemployment
Structural Unemployment
Okun's Law
Activities:
  1. Prep Worksheet 15
  2. Discuss Okun's Law
    1. have students determine GDP Gap for different countries using statistics from Economist online.
Assessment Activity: Individual Assessment based on Worksheet