Discussion Post: Economics
• So far we have focused on microeconomic concepts. How does an individual's spending and consumption fit into the Macro elements of GDP? (See slide 16 of Ch 23: Y = C+I+G+NX)?
• Give an example of a good of your choice, whose real value has increased during your lifetime as a result of inflation. What do you expect to happen to its price in the future?
• What are some other potential measures of a society's well-being, aside from GDP? Give an example of one measure, and compare/contrast that measure in two different cities/countries/continents/etc.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.