Assignment 2: Measuring the Economy’s Performance

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Question

Assignment 2: Measuring the Economy’s Performance

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:.bea.gov/index.htm”>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.
Submit your document to the W2: Assignment 2 Dropbox by Tuesday, May 28, 2013.

Assignment 2 Grading Criteria

Maximum Points

Met the criteria for the correct responses to the questions assigned. (6 points each)

30

Justified ideas and responses by using appropriate examples and references from texts, web sites, and other references or personal experience.

10

Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.

10

Total:

50

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