Please explain for Macroeconomics

Demonstrate knowledge on Gross Domestic Product (GDP) to a country, through research and evaluation.

Module-level outcome:Given the project specifications, the student will research and evaluate the country's GDP, productivity, balance of trade and rubric directions with 100% accuracy (Blooms Remember and Evaluate).

Complete the required research and evaluation in order to present the appropriate GDP information.

GDP is a measure of our country's PRODUCTIVITY. When we produce more, and our national output

increases (faster than population growth) then our STANDARD OF LIVING increases.

I give a simple analogy in an undeveloped country, Ethiopia for example, a father goes out each day,

and looks for food. The concern is to SUSTAIN yourself, not IMPROVE your standard of living.

But here, in the US, it is different. I will use my family as an example. My grandfather had a radio of

which there were not many choices. My dad had one of the first televisionsa big improvement from my

grandfather's day. Now today, there is Cable TV, IPODS, the Internet, etc. When we increase our productivity, our STANDARD OF LIVING rises. Every generation (so far anyway) has had a higher standard

of living than the one before, because we are constantly increasing GDP.

We are now in a tough time, and there are fears that we have lived beyond our means. In the coming

weeks, we will see how we have borrowed against our future, and our NATIONAL DEBT is so concerning,

some are wondering if the next generation MAY be the first to actually have a decline in STANDARD OF

LIVING.

Explain how to measure GDP

Define Business Cycles

Assess the differences in trade balances among countries

use the knowledge gained from examining our historical standard of living and the current state of the economy and make recommendations on what fiscal and monetary policies should be employed in a future paper.

Choose a country.

Research Directions

Find the Nominal GDP, and GDP per Capita in Dollars and World Rank for your country, and include where you got your source of information (Examples include CIA World Fact Book, or International Monetary Fund Ranking). Also remind us the difference in Real v. Nominal GDP.

In addition to Productivity (GDP) what is the Unemployment Rate and what is the current state of Inflation of your country? How does that compare to the United States current inflation and unemployment rates? Also what part of the business cycle is that country currently in?

What is their Balance of Trade? Who are their trading partners? What do they Import, and what do they Export?

What type of Government do they have? How does it compare to the US?

Identify the advantages and disadvantages of alternate measures of a country's standard of living.

Tell us 3 other fun or important facts about life in your country.

Country

AfghanistanMarshall IslandsMorocco

AngolaMexicoIceland

BermudaCanadaIreland

ChinaSwedenItaly

DenmarkSwitzerlandJapan

FranceSingaporePoland

GermanyMonacoLuxembourg

Spain