ECON. Naked Econ. Mon 11/29

Directions: Read chapter nine in the Naked Economics and answer the questions below.

Chapter 9: Keeping Score

  • Why is a nation’s GDP a good measure of its economic well-being and

progress?

  • Why is a nation’s GDP a poor measure of its economic well-being and

progress?

GDP: importance, real vs nominal, per capita 150 / GDP growth & wage growth 152 / GDP misses social progress 154 / Recessions 156 / Fiscal & monetary policy 158 / Other “vital signs”: unemployment, poverty, inequality, govt budget, deficit, current acct, national savings, demographics 160

BE SURE TO CONTINUE WORKING ON YOUR PROJECT.

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