Project #14165 - macroeconomics

 

1.  What are the definitions of the nominal and real gross domestic product?

 

 

2.  What is the difference between them and why it is important?

 

 

3.  How is the RGDP calculated? 

 

 

4.  How is the price index calculated? 

 

 

5.  List 4 shortcomings of the RGDP as  a measure of economic wellbeing.

 

 

6.  The GPI—from what we said in class and from the website—is a measure of quality of life that attempts to correct for the problems of the GDP.  List at least 5 differences between the GDP and the GPI that shows that the GPI a better measure of the quality of life.

 

 

7.  In a short paragraph, what did you think about the video on the Happy Planet Index?

 

 

1.  Use the PPC to show the benefits of economic growth and the difference in growth between two countries, one that directs its resources to the production of consumer goods, the other to capital goods. 

 

2.  List and briefly describe the 7 sources of economic growth that we talked about in class.

 

3.  Give the arguments made for and against economic growth and distinguish between economic growth, RGDP, and economic development, The Happy Planet Index.

 

Subject Business
Due By (Pacific Time) 10/08/2013 11:00 pm
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