Hi Macroeconomics Questions:

Please watch the video before answering the questions.

Video: https://www.youtube.com/watchtime_continue=4&v=d8uTB5XorBw&feature=emb_logo

Questions:

1. Can you give examples of economic transactions that are counted and not counted in GDP? Briefly explain why.

2. Research the gross regional domestic expenditures (GRDE) and gross regional domestic product (GRDP) in the PSA website. Compare and contrast how the two reports or methods to measuring GDP.

3. Go to the PSA website, and research how the consumer price index (CPI) or CPI inflation is measured. Why is the CPI a measure of the average price level and the CPI inflation a measure of the average increase in the price level of goods and services in the economy?

4. Research the latest headline and core inflation rates in the PSA website. Why are there two measures for the CPI inflation rate?