For this homework assignment you will study current GDP data and answer a series of short essay questions.
Access the Bureau of Economic Analysis Website:
Study real GDP growth rates and their components for the four most recent quarters and complete the following:
Identify and explain the components that comprise GDP and their relative contributions to GDP.
Describe the recent rate of real GDP growth.
Identify and analyze the factors that have driven growth (or the lack of growth) in real GDP.
Identify any recent events or changes that have caused an increase in GDP but not a correlating increase in our nation's standard of living.
Forecast real GDP growth over the next year and explain your answer.