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FratBro23
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Economics
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Question description

#1

What are the major components of the U.S. GDP? Explain the contribution of each component to the GDP with data.

#2

What is the relationship between the GDP and the business cycle? How do the business managers use the information about the positive trend in the real GDP growth rates to increase profits?

#3

GDP only measures the value of marketed goods and services for a country during a given period of time. What are the limitations of the GDP in measuring total output and national welfare? What products (goods and services) are excluded from the GDP computation?


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(Top Tutor) Daniel C.
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School: Purdue University
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