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GDP DATA- GOOD OR BAD
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Discussion A. Explain the term GDP.
Discussion B. Assess the evidence presented in the case and discuss the TWO (2) uses and TWO (2) limitations of using GDP data to measure the well- being of a nation.
Discussion C. One of the methods used to calculate GDP is highlighted in the case.
i. Name the method ii. Explain using examples THREE (3) elements that are important when using this method to calculate GDP
Discussion D. A country's real GDP is substantially higher today than it was 60 years ago. What does this tell us about the well-being of that country's residents?
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