Please assess the concepts and measurements of GDP, the business cycle, unemployment, inflation, and interest rates.
Provide at least three specific examples. Thanks for the help with this...© BrainMass Inc. brainmass.com October 25, 2018, 6:08 am ad1c9bdddf
Measurements of GDP
GDP is the abbreviation for Gross Domestic Product which is the market value of all the services and products produced by a nation in a given period. The GDP measures the growth levels in the economy of a nation on the basis of the financial activities in the economy. The two methods that are used in the measuring of the GDP are; the expenditure method and the income method. Through the expenditure method, the aggregate expenditures on the final goods and services produced during the year are measured are added up. In the income method, the owners of the resources produces during the year are summed up to ascertain the income value (Zaheer, n.d).
Measurements of the Business Cycle
The business cycle is the curve that shows the alterations in the GDP through the growths and contractions of the economic activities. The measures that are used in the business cycle are the changes that are ...
The concepts and measurements of GDP, and the business cycle is examined.
I'm currently studying recessions and given the fact that the US has not experienced a recession since 2001, Do you think another recession is on the horizon? Please explain your reasons why a recession might occur? If your feeling is that a recession might not occur, please explain.
Also, I'm sort of confused on what major trends in the economy will have the biggest impact on the business cycles?View Full Posting Details