Macroeconomics paper

Macroeconomics paper

The Measure of Economic Health

[WLOS: 1, 2, 3] [CLOS: 2, 4]

Gross domestic product (GDP) is defined as the value of final goods and services that are produced in a country’s territories within a certain time period, usually a year.

In your paper,

• Assess GDP’s importance.
• Examine the shortcomings of GDP in measuring a country’s economic health?
• Discuss using GDP to evaluate the business cycle.
• Examine factors that may affect the business cycle.
• Evaluate the health of the current U.S. economy by its GDP, business cycle, and economic growth.

The Measure of Economic Health paper

• Must be three to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center’s https://writingcenter.ashford.edu/apa-style
• Must include a separate title page with the following:
• Title of paper
• Student’s name
• Course name and number
• Instructor’s name
• Date submitted
• For further assistance with the formatting and the title page, refer to https://writingcenter.ashford.edu/apa-formatting-word-2013
• Must utilize academic voice. See the Academic VoiceLinks to an external site. resource for additional guidance.
• Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
  • For assistance on writing https://writingcenter.ashford.edu/introductions-conclusions as well as https://writingcenter.ashford.edu/writing-a-thesis
• Must use at least three scholarly, peer-reviewed, and/or other credible sources in addition to the course text.
  • The https://content.bridgepointeducation.com/curriculum/file/e5359309-7d3c-4a21-a410-44d59303ccef/1/Scholarly%20Peer-Reviewed%20and%20Other%20Credible%20Sources.pdf table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
• Must document any information used from sources in APA style as outlined in the Ashford Writing Center’s.
• Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. See the https://writingcenter.ashford.edu/format-your-reference-list resource in the Ashford Writing Center for specifications.

Solution Preview

Introduction

GDP is a monetary measure in terms of market price, of final goods and services that have been produced over a time period, either quarterly or yearly. It remains a useful tool for determining for comparing the living standards between various nations. This paper seeks to look at the importance of GDP and how it fails short in measuring a countries economic growth. Moreover, it discusses the use of GDP to evaluate the business cycle, factors that affect the business cycle and the current health of United States in terms of its GDP, business cycle and economic growth.

The Importance of GDP

GDP is not just a number. It is the basis through which the overall picture of the economy can be viewed from. It is important for the following reasons.

(1,379 words)