Question: Go to the following website: Beaureau of Economic Analysis
Based on the information contained on the website above, answer the following questions:
1. What was Real GDP for 2014?
• What does GDP tell us?
• How did GDP change from 2013?
• What caused these changes?
2. What was GNP for 2014?
• What is the difference between GDP and GNP?
• How did GNP change from 2013?
• What caused these changes?
3. What was National Income (NI) for 2014?
• What does National Income tell us?
• What is the difference between GNP and NI?
• How did NI change from 2013?
• What caused these changes?
4. What was Disposable Income (DI) for 2014?
• What does Disposable Income consist of?
• How did DI change from 2013?
• What caused these changes?
5. What was GDP in 2013 (sometimes called GSP) for your state (Alabama)?
Submit your responses in an Microsoft Word document in a short answer/worksheet format.