Discussion Post: The Business Cycle- Aggregate Supply & Demand
For this Discussion post, complete the following:
Gross domestic product (GDP) is a measurement of how much people produce of goods and services. What this means is that when more people are working, GDP goes up. When people are not working, GDP goes down. The more goods and services that are being produced, the healthier the economy. There is more money available to purchase goods and services, and there are more goods and services available to purchase.
Watch the following video to review GDP:
o What is GDP?
For this discussion, answer the following:
o Share an example of when you or someone you know lost their job. What good or service did they produce? How did losing their job change the amount of goods or services that they produced?
o Think about a business that closed. When a business closes, many people lose their paycheck. When you do not have a job, you spend less money. How does having less money to spend affect GDP?
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.