For this assignment, you should use the information in the textbook and the information found on the official government website: www.bea.gov/index.htm

Prepare a 4-6 page analysis by answering the questions below. Be sure to cite your references using APA format.

For this assignment, you should use the information in the textbook and the information found on the official government website: www.bea.gov/index.htm

Based on the information contained in the textbook and on the Web site above, answer the following questions:

  1. What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008?
  2. What was national income (NI) for 2008? What does national income tell us? What is the difference between GDP and NI? How has NI changed since 2008? What caused these changes?
  3. What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes?
  4. Does GDP measure the well-being of society? Why or why not?
  5. What was GDP in 2008 (sometimes called GSP) for your state? How does your state rate when compared to other states?

All submissions must be original and all resources must be acknowledged.
Name your document SU_ECO2072_W2_A2_LastName_FirstInitial.

MODEL ANSWER 

The gross domestic product (GDP) is one of the primary PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER used to gauge the health of a country’s economy. It PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWERthe total dollar value of all goods and services PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER a specific time period, often referred to as the size of the economy. Usually, GDP is expressed as a comparison to the previous quarter orPLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER example, if the Q3 2017 GDP of a country is up 3%, the economy of that country has grown by 3% over the third PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER quarterly growth rates are a periodic measure of how the economy is faring, annual GDP figures are often considered the benchmark for the size of the PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER United States, real GDP increased at an annual rate of 2.6 percent in the fourth quarter of 2017, according to figures released by the PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER all of 2017, GDP grew 2.3 percent. Current-dollar GDP increased 4.1 percent, or $762.3 billion, in 2017 to a level of $19,386.8 PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER countries with the largest GDP in descending order are…………………..

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