Real Gross Domestic Product (GDP)
Instructions
Visit the Census Bureau (NAICS) website and select an industry that has a description. Some of the smaller industries are named, but not described.
The industry could be broad, such as industry 11 Agriculture, Forestry, Fishing and Hunting, or it could be narrow, such as industry 112112 Cattle Feedlots.
The more digits in the industry label, the narrower the industry.
In a few short paragraphs:Describe your selected industry using the industry description at the NAICS website. Be sure to write in your own words. Don’t just copy and paste the NAICS text.
Identify some of the major companies in this industry. . Cattle Feedlots.
Identify the goods, and/or services this industry produces. Use the information from the NAICS website. You can supplement this information with what you find in a separate Google search.
Select one of three macroeconomic variables (real GDP, the unemployment rate, or the inflation rate) that a business person in your chosen industry should monitor, and explain why that variable is important and how it might have an impact on your selected industry.
Describe in a sentence or two the important movements of the variable in the table and graph.