500 – 700 words, answer the following in APA essay format, with a minimum of 3
Assume that Country A has a
population of 500,000 and only produces 1 good: cars. Country A produces
100,000 cars per year. The people in Country A purchase 90,000 cars, but there
are not enough cars to fulfill all the demand. They decide to import 50,000
more. The government buys 25,000 cars for its police force, and 10,000 cars are
bought by companies to transport employees to other locations to work. They
also export 65,000 cars to nearby countries for sale. Discuss the
is Country A’s GDP?
is the composition of GDP by percentage?
is the GDP per capita?
does this relate to Keynesian economics?
Go to the Bureau of Economic
Analysis at http://bea.gov/ and look up the latest new release for real GDP. Address the
following questions after reading the latest release:
is the United States in the business cycle?
is the real GDP today?
is the largest component of GDP?
is the smallest component of GDP?
is the fastest growing component of GDP, and why?
components of GDP were involved in the change from last month to this
is the price index today?
caused the change?