Case Scenario:
Ten Principles of Economics and the Data of Macroeconomics
Resources: National Bureau of Economic Research; Principles of Macroeconomics: Ch. 1, 2, 3, 4, 5, 6, and 7
Scenario: Your organization's CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing a report to introduce some of these thoughts and principles.
Develop a 1200-word report to the members of the strategic planning committee explaining the following information:
Question 1. How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.
Question 2. Using the circular flow model, explain the flow of money and goods in an economy.
Question 3. How the economy coordinates society's independent economic actors.
Question 4. A country's gross domestic product (GDP) and how it is defined and calculated.
Question 5. How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living.
Format the assignment consistent with APA guidelines.
Your answer must have to be in 1000 to 1200 words.