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.