4 Economics Questions?

[TheBarbarianLibrarian]

1) What is the relationship between a nations GDP and its imports? Exports? Construct and appropriate graph.

2) What is the impact of government spending on GDP? Construct a graph and/or table.

3) Name and explain the three major budget philosophies How is the 5 trillion public debt financed?

4) Define the term business cycle. What are the stages of the business cycle? Trace cyclical experiences of American capitalism from the 1920's to the present. Include the Depression of the 1930s and recent economic events, namely stagflation and the 1981-1982 recessions and the current slowdown.

[tusoo]

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...

[MIKxx]

Haha have you copied and pasted questions that you have to fill in for an assignment or something?!?! I do Economics at school but don't ask me what any of that means. This is American related, I have no idea what the three major budget philosophies are?!?!

GDP is Gross Domestic Product -- that's all I know lol.