ECON312 GDP Course Discussions

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ECON312 GDP Course Discussions
Go to the Bureau of Economic Analysis website, www.bea.gov, and access the BEA interactively…

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ECON312 GDP Course Discussions

ECON312 GDP Course Discussions

Week 4 All Students Posts – 44 Pages 

Go to the Bureau of Economic Analysis website, www.bea.gov, and access the BEA interactively by selecting “National Accounts” and then “National Income and Product Account Tables.” Select “Frequently Requested NIPA Tables,” and find Table 1.1.1 on GDP. What is the current GDP growth rate for the U.S.? Examine the trend over the past few years. What trends interest you? What stage of the Business Cycle would the U.S. economy be in currently given the trends? Why might GDP not be considered an accurate measure of economic well-being of a country? Identify at least three limitations of GDP as a measure of economic well-being.

The GDP does not take into consideration negative activities such as Divorces or Oil spills. Nor does it take into account for Home schooled or family care children, it will in turn add if those children are placed in daycare or if a Nanny is hired. It will also add the Oil bought, but not the Natural Resources destroyed…