Real World Economics

If an economist were asked to sum up a nation’s entire economy in a single statistic, he or she would probably cite the Gross Domestic Product (GDP). Another important measure is the Gross National Product (GNP), which differs from the GDP in a number of ways. Together the GDP and GNP are perhaps the most important of all economic indicators, and for this reason it is essential that students understand what they are, how they are calculated, and what real-world economic realities they reflect and predict. Understanding the GDP and GNP is crucial to understanding the current economy and its effects on teens, their families, and their towns. This book provides an invaluable key to that understanding.