ECO 372 Week 2 Assignment Fundamentals of Macroeconomics Paper
Resource: Figure 3-1 in Ch. 3 of Macroeconomics.
Describe the following terms in your word.
Gross domestic product (GDP)
Consider the following examples of economic activities:
Purchasing of groceries
Massive layoff of employees
Decrease in taxes
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Statistics and charts for these macroeconomic variables can be located at www.bls.gov and www.bea.gov .
Write an APA formatted 700- to 1,500-word paper summarizing the results. All borrowed material must be cited. Use of graphs, analytical tables and other statistics is encouraged.