Economic indicators

You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are asked to write a professional document that discusses the concepts below.

• Define Gross Domestic Product (GDP). 
  • Differentiate between Real GDP and Nominal GDP.
• Explain how the GDP of the U.S. may influence the sale of smartphones by TOF. 
  • What percentage of the GDP is attributed to the sale of cellular phones (including carrier services) in the United States?
• Define the Human Development Index (HDI). 
  • Explain if the HDI has an influence on the sale of smartphones in the U.S.
  • Which aspect of the HDI might influence the sale of smartphones?
  • Identify the target audience for the sale of smartphones in the U.S.