GDP and Circular Flow"
Please respond to the following:
Provide an illustration of how GDP impacts your personal life, your work, or school life.
Identify one activity (e.g., going out to dinner) on which you cut back during the recent recession. Using the circular flow model of income and expenditures, discuss how your actions affected the income and expenditures of others in the economy.
Taking Measure"Please respond to the following:•Consider the tasks you do every day to determine how you contribute to the U.S.GDP in ways that are not tracked. Discuss how the GDP might be understood orused differently if such contributions were included (not just yours, buteveryone's).From the e-Activity, imagine you only have one economic indicator to rely on(GDP or CPI) to indicate the health of the nation. Indicate your choice and provideyour rationale