Discussion Post: Measuring the Economy
• What does GDP attempt to measure?
• Briefly differentiate between nominal and real GDP. Why is real GDP a more accurate measure of economic growth compared to nominal GDP?
• What are two weaknesses of GDP?
• GDP can be expressed as the sum of four types of expenditure. Identify and briefly discuss each of these four types of expenditure.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.