6-8 pages paper about economic

Writing Assignment. Typed, double spaced, cover page, in an assignment folder. Approximately 6-8 pages typed. This is due on Friday Dec 4th in class by 3:30 pm, but may also be handed in at the final exam and still be on time. This is worth 3 writing assignments. Read the article “If the GDP is Up, Why is America Down.” And the chapter(s) from your textbook on GDP. Write an essay in which you address all of the following. There is to be no use of quotes from the article - everything needs to be explained in your own words. Article available on Canvas.

A. Define GDP. What are its components? Define and explain each one. What is included and excluded from each component? What is the difference between GDP and GNP? What so the difference between GDP and NDP? (10 pts)

B. Outline the historical origins of the use of GDP. Why did we feel we needed to measure GDP at all? (10 pts)

C. In what sense is GDP accurately measuring our production levels and standard of living in the US economy? Explain your answers. (10 pts)

D. In what sense does GDP not accurately measure our production levels and standard of living in the USA economy? What is it about the way we have constructed GDP that leads to this problem(s). Explain these problems in detail. (35 pts)

E. What and how do the authors suggest we improve GDP? Be certain to evaluate the authors’ argument. Does it make sense? Is it practical? Explain. Then, offer at least four additional suggestions to what the author’s propose on how you would further improve the measurement of GDP. (these are to be your own proposals, your own ideas). If you simply restate what the authors have said, this is will be worth zero points. (25 pts)

F. This article is now almost 20 years old. Is it still current? Why or why not? Explain yourself. (10 pts)

Your assignment will be evaluated as follows:

Quality of your written argument = 80%

Writing style, grammar, spelling, etc = 15%

Late submissions: -10 pts if not submitted on time. 10 pts per ½ hour late after that.

Not following instructions and proper format = -10 pts, no folder = -10 pts,