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1. Suppose we want to compare this year's GDP with those of previous years. As we go back in time - to 1980, to 1970, to 1960, and to still earlier years - what happens to the validity of these comparisons? Why does this happen? 2. If our GDP rose from 11,000 to 11,500, there could be a few different explanations. List each of these possibilities. 3. Which has been increasing faster, GDP or real GDP? Explain your answer. 4. "Americans enjoy the highest standards of living in the world." Discuss why this statement is not perfectly accurate. 5. Under what circumstances could real GDP for a given year be greater than GDP for that same year? For example, if 2015 were the base year and 2016 were the current year, how could real GDP in 2016 exceed GDP for 2016? 6. Explain how GDP is affected by the sale of:a new house.an hour session with a physical trainer.1,000 shares of AT&T.an antique rolltop desk. 7. If you were comparing the economic well-being of two countries and had a choice of using one of the following four measures, which one would you choose and why would you choose it?GDPReal GDPPer capita GDPPer capita real GDP 8. Do you think we should switch from using GDP to GPI as our basic measure of national well-being? 9. You have just been hired by the Bureau of Economic Analysis of the U.S. Department of Commerce to come up with an improved measure of national output. Use GDP as your starting point. 10. Which country has the highest per capita GDP and which country has the lowest? PART II: JOURNAL ACTIVITY Web Field Trip Directions: Please visit the following two websites: · GDP (https://www.bea.gov/index.htm)· United Nations Human Development Then answer the questions below. Please provide detailed and elaborate responses and ensure that your responses are a minimum of 100 words each and include examples from the reading assignments or personal experience, if possible. 1. Find the most recent data on GDP growth by visiting GDP for the most comprehensive accounts through U.S. Department of Commerce, Bureau of Economic Analysis. Then compare the growth rate of GDP components including C, I, G, net exports and inventories.
2. Using the United Nations Human Development, please compare GDP, GDP per capita, and overall well-being in different countries. You should look for countries that are ranked differently depending whether GDP per capita or "human development" is the criterion.
1. currently in the us inflation as measured by the cpi is about 1.5 and u is about 7.6 assume that us un 6.present the
the government has recent completed a study suggesting that fora health diet every consumer like chrissy a cash subsidy that would induce her to buy F=8. how large would the cash subsidy need to be? show her optimal basket iwth the cas subside on ..
A tariff is simply a tax on imports. Use our model of the excise tax (with diagram) to describe why domestic firms request that tariffs be imposed.
abs reported the following data for october 2011labour force participation rate 65.6 per centworking-age population
The World Bank is currently advising newly industrialized countries on how to encourage growth. Using the Internet, library and/or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the ..
Elucidate how the steepness of the short run aggregate supply curve affects the government's ability to use fiscal policy to change real GDP.
Determine the four phases of the business cycle? How long do business cycles last and how do seasonal variations and long-run trends complicate measurement of businrss cycle?
4. Sam consumes green eggs and ham. Ham and green eggs are both normal goods.
Discuss the application of true cost pricing to oil. What might the true cost of oil be? At what price of gas would drivers in the U.S. seriously change their driving habits?
Americans are known for their long-term love affair with their cars. But as gasoline prices soar and concern about the environment mounts, the need to conserve gasoline has become increasingly clear.
Assume the problems of maximizing solves the first problem if and only if it also solves the second problem.
measuring the economys performanceprepare a analysis by answering the questions below. be sure to cite your references
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