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GDP is a key concept in Macroeconomics. Please review the
material covered in the topic called Measuring Domestic Output
and National Income.
a. What is the definition of GDP?
b. Tell me the level of real GDP and real GDP per capita for
the past 5 years and tell me how you think we are doing
today and why.
c. Go to topic called Economic Growth and look at slide 3 and
tell me if the falling trend line is a good or bad thing for the
nation and why. Please be thorough!
d. List and explain in detail, the 3 different approaches to
calculating GDP.
i. List and explain the approaches and how you would use each to
calculate GDP.
e. List and explain 4 types of transactions that would not be
included in GDP and why they should be omitted.
i. Look in the notes and find 4 types of transactions that are
excluded from the computation of GDP and write them down
along with the explanation of each and why they are not
included.
f. Nominal versus real GDP.
i. Explain the difference between nominal and real
GDP. GDP per Capita Macroeconomics Assignment Help
ii. Explain in detail, how to calculate real GDP,
including the factors used in the calculation.
1. Look in the notes to find this – very straight forward.
iii. Explain in detail the CPI since it is used to make the
conversion. The following url should help –
https://www.bls.gov/cpi/
iv. Explain what you can do with real GDP that you
cannot do with nominal GDP and explain why that
is important.
g. GDP and GDP per–capita.
i. Explain the difference between GDP and Per Capita
GDP;
ii. Explain how to calculate Per Capita GDP, and how
Per Capita GDP can be used
For GDP per Capita Macroeconomics Assignment Help please click here