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4-6 pages
Measuring the Economy’s Performance
For this assignment, you should use the information in the
textbook and the information found on the official government
website:
www.bea.gov/index.htm
Based on the information contained in the textbook and on the
Web site above, answer the following questions:
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?
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?
What was disposable income (DI) for 2009? What does
disposable income consist of? How did DI change from 2008?
What caused these changes?
Does GDP measure the well-being of society? Why or why not?

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4-6 pages Measuring the Economy’s PerformanceFor this assign.docx

  • 1. 4-6 pages Measuring the Economy’s Performance For this assignment, you should use the information in the textbook and the information found on the official government website: www.bea.gov/index.htm Based on the information contained in the textbook and on the Web site above, answer the following questions: 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? 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? What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes? Does GDP measure the well-being of society? Why or why not?