| 1) GDP is Gross Domestic Product. it measures how well an economy is doing. it measures the total output an economy produces.
GDP = Consumption + Investments + Government Spending + Net Exports
Net Exports being (exports minus imports)
Therefore, with C, I and G remaining constant, if exports exceed amount of imports, GDP increases. If imports exceed exports, GDP falls.
2) Refer to the above equation.
3) have no idea wat this question is going on about
4) Business cycles are economywide fluctuations in total national output, income and employment, usually lasting for a period of 2 to 10 years, marked by widespread expansion or contraction in most sectors of the economy.
To trace the experiences of the american history, you should actually do the research there. its quite interesting... |