What is the current dollar value for the nation’s annual GDP as of the most recent report?

www.bea.gov (Links to an external site.)

First review this site and the economic information it offers.

Next research the most current data on macroeconomic output and growth. Under “Economic Accounts – National”, click on “Gross Domestic Product”. From this location click on and review “News Release: Gross Domestic Product”. Refer to the menu on the right side of this webpage and open up the “Full Release and Table”. Now review the summary and the data in the tables. Answer these questions:

a. What was the Real GDP growth rate for the past two quarters? (Hint: Table 1; average the last two quarters released)

b. What caused the changes in GDP growth for the most recent quarter?

c. What is the current dollar value for the nation’s annual GDP as of the most recent report?

d. The unemployment rate remains persistently high at over 5%. Economists estimate we will need a sustained 3-4% annual Real GDP growth rate to reduce unemployment to 4-5% (the “full employment” rate.) If the growth rate from the past 6 months continues, what does that imply for our future unemployment rate?

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