so that it is not marked as plagarism or written by AI in one paragraph of 8 sentences from a perspective of a high school student in economics class. Scenario 1: Joe was asked to evaluate two economies in the world. Joe picked the US and the UK. He thought the best way to compare their economies was to look at their nominal GDP. He discovered that the US had a nominal GDP of 24.4 Trillion dollars and the UK had a nominal GDP of 717.8 billion dollars. He came to the conclusion that the US has a better economy. Is Joe correct? Did he gather the correct data? What would you suggest he look at when evaluating two economies? Why? Was Joe Correct? Please note that you are not being asked to evaluate the economies, instead, you are being asked the question, did he look at the correct data? Why or why not? What should he be looking at and why? Use several economic terms and concepts in your response and explain them in your own unique words