The measure of the value of total final production in a country during a year is the gross domestic product.

1. Discuss macroeconomic theory and presents the variables that determine gross domestic product. Explain each variable.
2. What are the two approaches used to measure the gross domestic product? Explain each approach.
3. To measure a country's economic development, it is necessary to evaluate the behavior of nominal GDP and real GDP. Using the macroeconomic theory presented in the module content, explain what is the difference between nominal and real GDP.
4. How is it calculated and what is the importance of the GDP or GNP growth rate of Puerto Rico or of any country? He explains.
5. What is the relationship of the GDP growth rate to the business cycle? Explain.