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Focus on Economic Data: Gross Domestic Product - March 2005
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Real gross domestic product (GDP) during the first quarter (January through March) of 2005 increased at an annual rate of 3.1 percent. This is an advance estimate of the change in real GDP for the first quarter. The increase in real GDP was primarily due to increases in consumption and inventory, software, equipment, and residential housing investment. Imports increased during the quarter.
Grades:
Concepts:
- Consumers
- Economic Growth
- Exports
- Government Expenditures
- Gross Domestic Product (GDP)
- Imports
- Investing
- Nominal Gross Domestic Product (GDP)
- Per Capita Gross Domestic Product (GDP)
- Real Gross Domestic Product (GDP)
Standards:
- Economics 11: Role of Money
- Economics 15: Growth
- Economics 16: Role of Government
- Economics 18: Macroeconomy-Income/Employment, Prices
- Economics 19: Unemployment and Inflation
- Economics 20: Monetary and Fiscal Policy
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