Please do not use AI tools and give the references you use!

For this first written assignment, respond to two questions of the two listed below in one 300 -word minimum paragraph each (600 minimum words total you can write more if you would like to). Please number your responses.

1. Referring to your post in the Chapter 1 Key Terms discussion thread, explain how one of the key terms you selected is connected to the concept of GDP. Choose a nation from the OECD interactive chart (Week 04 course materials) and show how your key term enables you to better understand, interpret, evaluate or compare that country's GDP. Provide one example using data from research.

2. Referring to your post in the GDP and Standards of Living discussion thread, think about Ontario and the GTA's standard of living. Using this data from statistics on Ontario's GDP from 2000-2022, what assumptions would you make about the standard of living in the province? Research one of the points you identified as a limitation in your discussion thread response to show how standard of living discussions benefit from data beyond GDP numbers.