What is the difference among a final good

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1 a) What is the difference among a final good and an intermediate good? Give one instance of each. How are they treated in GDP calculations?

b. Give few reasons why real GDP isn't an adequate measure of a nation's wellbeing. Although these limitations do you think real GDP is a useful statistic? Describe your answer.

2. Carefully describe the different sorts of expenditures made by the Federal government. What is the difference among discretionary spending and transfer payments? Give instances of each. Why have transfer payments enlarged so significantly in recent years?

3. Look prudently at the business cycles that occurred over the past fifty years

Reference no: EM1380365

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