List and discuss the components of GDP.

1.       Define gross domestic product (GDP), and distinguish between final goods and services and intermediate inputs.

2.       List and discuss the components of GDP.

3.       Explain what GDP does not include.

4.       Compare GDP and GDP per capita across countries.

5.       Define gross domestic product (GDP), and distinguish between final goods and services and intermediate inputs.

6.       Explain what GDP does not include.

7.       Compare GDP and GDP per capita across countries.

8.       Which of these is not a reason we might want to measure the size of the economy?  a) To track the magnitude of recessions. b) To estimate the productive capacity of the country in case of war. c) To measure the happiness of people. d) To estimate tax collections. e) To compare living standards in different countries

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