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Select a country and explore the concepts of nominal and real GDP to measure the economic health of your country. As part of your research,
Select a country and explore the concepts of nominal and real GDP to measure the economic health of your country. As part of your research, you will also explore these key economic factors.
Locate a recent article (published within 2020-2021) that includes values for the key economic factors. (include reference)
Include the following
- Discuss how nominal and real GDP for your selected country are affected if there is a decrease in taxes and an increase in interest rates.
- Identify and discuss at least six economic indicators for your selected country:
- Gross domestic product (GDP)
- Unemployment
- Poverty rates
- Population
- Interest rates
- Retail sales
- Inflation
- GDP per capita
- State the relationship between GDP, net domestic product (NDP), national income (NI), personal income (PI), and disposable income (DI)
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