ECO 205 week 7 DQ 1 and DQ 2

ECO 205 week 7 DQ 1 and DQ 2

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1.    Discussion Question (Main forum)

Due Date:  Day 2

·         Post a response to the following:  The Gross Domestic Product is a very important measure of how well the economy is doing.  How is the GDP calculated? What are the three ways in measuring GDP? Define final good and intermediate good and give an example of each.

2.    Discussion Question 2 (Main forum)

Due Date:  Day 4

·                Post a response to the following:  Economists use GDP as a measure of economic growth.  If the GDP is increasing year over year, does that necessarily mean that the economy is growing? What are the advantages and disadvantages of using the Gross Domestic Product (GDP) as a measure of productivity and economic health?  Explain your answers.

3.