Measuring economic muscle.

• Position: GRAPH: INTERNATIONAL

One key piece of data you'll find in Upfront's almanac pages is gross domestic product, or GDP. The market value of the goods and services produced in a nation in a given year, GDP is one measure of the size of a nation's economy. It includes consumer spending, government spending, business spending on things Like buildings and equipment, and net exports (the value of total exports minus the value of total imports). The U.S. has tong had the world's Largest GDP. But as these graphs show, GDP rankings can change over time.

ANALYZE THE GRAPH

(1) In 2007, China's GDP was about 25 percent of the U.S.'s. In 2012, China's GDP is about--of U.S. GDP.

a 42 percent

b 53 percent

c 68 percent

d 71 percent

(2) Which of these nations is expected to have the smallest increase in GDP from 2012 to 20177

a the U.S.

b China

c Japan

d Germany

(3) Global GDP in 2012 is about $70 trillion. The five nations with the highest GDP for 2012 make up--of it.

a nearly a third

b about two thirds

c just over half

d nearly three quarters

(4) According to the graphs, which nation's GDP is projected to grow by 60 percent from 2012 to 2017?

a the U.S.'s

b China's

c Japan's

d Germany's

(5) You can infer from the graphs that from 2007 to 2012,--.

a the United Kingdom's GDP felt by more than $200 billion

b France's GDP increased by at Least $200 billion

c both a and b

d neither a nor b

ANSWER KEY

GRAPH EXERCISE > PAGE TE 4

(1) [b] 53 percent

(2) [d] Germany

(3) [c] just over half

(4) [b] China's

(5) [a] the United Kingdom's GDP fell by more than $200 billion

DISCUSSION QUESTIONS

(1) Does it surprise you that the U.S. has the world's Largest economy? Why or why not? Do you think other nations wilt surpass the U.S. over time? Explain.

(2) What do you notice about Japan's and China's positions on the...