Gross domestic product (GDP) is defined as the value of final goods and services that are produced in a country’s territories within a certain time period, usually a year.
Assess GDP’s importance.
Examine the shortcomings of GDP in measuring a country’s economic health?
Discuss using GDP to evaluate the business cycle.
Examine factors that may affect the business cycle.
Evaluate the health of the current U.S. economy by its GDP, business cycle, and economic growth.
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