E.5.5+Recognize+that+a+country's+overall+level+of+income,+employment,+and+prices+are+determined+by+the+individual+spending+and+production+decisions+of+households,+firms+and+government.

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=Focus Question: How is a country's overall level of income, employment and prices are determined by the individual spending and production decisions of households, firms, and government?=


 * The amount of revenue created by individuals determines the size and scope of business in a country which includes level of employment.
 * A country that is quite successful in terms of private business and household economy will be one that is able to employ more workers at a higher rate of pay.
 * Governments and companies must spend money to be successful in their production and thus will create a better economy for said country.
 * [|Gross Domestic Product] is a mathematical way of determining a country's standard of living by measuring the production within a country.
 * [|Gross National Product] measures the productivity of all members of a society, whether they are working or not.

[|Robert F. Kennedy's statement about Gross National Product]March, 1968.

[|Classification of Countries by Income]

[|"The World Distribution of Household Wealth"]

[|World Poverty Map]