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: http://www.bea.gov/national/index.htm#gdp Study real GDP growth rates and their components for t

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: http://www.bea.gov/national/index.htm#gdp

Study real GDP growth rates and their components for the four most recent quarters and complete the following:

1. Identify and explain the components that comprise GDP and their relative contributions to GDP. 3 points
2. Describe the recent rate of real GDP growth. 3 points
3. Identify and analyze the factors that have driven growth (or the lack of growth) in real GDP. 8 points
4. 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. 3 points
5. Forecast real GDP growth over the next year and explain your answer. 3 points

While this is not a paper, you must still properly cite your answer and write in full sentences. Your total assignment should be 3-7 pages long and submitted in a MS Word document.