Econ 1023 Assignment 2 (5%) Due: Oct. 22, 2019
Your uncle believes that “money is everything”. At the family Christmas dinner, he argues that Canada should increase its production, trade and income and it should surpass other rich countries in increasing its GDP. You have taken a macroeconomic course at St. Thomas University, and you have learned the counter argument to your uncle’s point of view. Briefly, but fully and convincingly, explain the counter arguments to your uncle’s view on GDP growth. Make sure to include the shortcomings of GDP in your answer. (Answer in one to two double-spaced pages).