Political Science Assignment
Answer the questions in short answer format.
1. What is inflation? How is it calculated? Is every price increase considered inflation?
2. What is GDP? What are the components (C,G,I,Xn)? Which component is the largest contributor to GDP? Which is the smallest (or negative) contributor to GDP?
3. What is a recession? In the United States, who determines a recession?
4. What happens to GDP in a recession? Why?
5. What can the United States Congress/President do to stop and rescue the nation from a recession? List and briefly explain 3 (Hint: look up fiscal policy and/or monetary policy)
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.