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Instructions
1. Read section "Introduction to the Macroeconomic Perspective" from Chapter 19 in the book Principles of Economics.
2. Next, answer the following questions. Your responses should be a minimum of 100 words each:
a. Explain why GDP is an effective measure of living standards.
b. Discuss how quality-of-life measures may be determined and measured.
c. Explain why aspects of our quality of life in the United States may be difficult to compare with other countries around the world.
3. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop.
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