GDP you later!

Critical Analysis

  1. According to the map above, what country's GDP (Gross Domestic Product) - the monetary value of all the finished goods and services produced within a country's borders in a specific time period - is the same as your state's?

  2. What conclusions can you draw about wealth and geography (in other words, are some parts of the country poorer or richer than others)?

  3. Which state-country GDP comparison most surprised you?

  4. What does this map tell you about the wealth of the US relative to the rest of the world?

  5. The economy of the State of California is the largest in the United States, with a $3.4 trillion gross state product (GSP) as of 2021. It is the largest sub-national economy in the world. If California were a sovereign nation (2022), it would rank as the world's fifth largest economy, behind Germany and ahead of India. California has two senators. Should Californians get extra senators for being so rich?

  6. Vermont had the lowest GDP (state economy) in the United States, with 36.17 billion U.S. dollars. Representation in the U.S. House is based on population. Make a claim about whether the U.S. should apportion House seats by economic output of a state instead of by population, (thus Cali would have about 94.4 times as much representation as Vermont.)

  7. Based on this map, what adjective would you use to describe our nation's wealth?

  8. The Federal Reserve raises and lowers interest rates in an effort to prevent recessions and maintain low inflation. The president appoints its seven-member board of governors, including the chair, but their terms are staggered so that a president doesn’t get to appoint a majority of Fed leaders right off the bat (Fed governors’ terms are 14 years, though few serve that long; the Fed chair has a four-year term). The occupants of the Oval Office can steer policy around taxing and spending priorities. But they can’t do it alone because Congress has greater power than the president over how the government taxes and spends. Based on this information, make a claim about how much power the President has to impact the economy.

  9. Generally, as the economy grows, the president gets credit, as the economy shrinks (or stagnates) the president gets the blame. Right now inflation is up so things cost more and many people are feeling economically pinched. How do you think our current economy will impact the 2022 midterm elections?

  10. Brutus 1 argued that a free republic cannot exist in such a large territory as the United States, writing that a “free republic” over “such vast extent” of territory is impracticable because, in time, the people will become “acquainted with very few of their rulers” and lose “confidence” in, and control over, the government.. Given the size (geographic and economic) of the United States, make a claim about whether the United States is too large for freedom?


Learning Extension

Read the Business Insider story about different countries' GDPs relative to US States'.


Action Extension

Contact President Biden and advise him on two things he should do to increase US GDP:


Visual Extension*

Statistic: Gross Domestic Product (GDP) of the United States in 2021, by state (in billion current U.S. dollars) | Statista
Find more statistics at Statista
Statistic: The 20 countries with the largest gross domestic product (GDP) in 2021 (in billion U.S. dollars) | Statista
Find more statistics at Statista

Lael Brainard

Vice Chair Federal Reserve

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