Economics Growth and Current Events

  1. What is meant by real GDP versus nominal GDP? Why is real GDP growth important and what does it seek to accomplish?
  2. In what ways does real GDP growth impact employment? Why is full employment important?
  3. How does it relate to price stability? As it relates to GDP, what might be the cause of price inflation?
  4. What is the current real GDP growth number and how does it relate to previous years?
  5. What role does unemployment play in the economic growth equation?
  6. How can social factors such as immigration and discrimination affect economic growth?