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3.3 Assignment: GDP Application

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  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. Read Chapter 11 in Economics for Managers. As you read, think about how you might try to measure the economic output of a city, state, or even a country.
  3. Download and review the Ch11.ppt PowerPoint file.
  4. In a two-page paper, address the following:
    1. Access the Bureau of Economic Analysis release for Real GDP for the second quarter of 2020, the quarter in which the pandemic-related shutdowns reached their peak. Examining the bar graph on page one of the link, what stands out in the second quarter of 2020 relative to previous quarters? Examining page four of the link, which sectors of the economy appear to have been hit the hardest? Explain why these sectors were hit so hard and the effects of such events on the local, regional, and national economies. Choose some of these services from your local area. Any evidence they have experienced similar tumultuous effects?
    2. https://www.bea.gov/sites/default/files/2020-09/gdp2q20_3rd_0.pdf

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