Question:
What is the current GDP growth rate for the U.S.? Examine the trend over the past few years. What stage of the Business Cycle would the U.S. economy be in currently given the trends? Why might GDP not be considered an accurate measure of economic well-being of a country? Identify at least three limitations of GDP as a measure of economic well-being.
I went to the Bureau of Economic Analysis website and accessed the table 1.1.1 on GDP. I found the current growth rate of the U.S. to be 4.1% in the last quarter of 2011 and 1.7% in April to June of 2012.