The Big Picture, Tracking the Macroeconomy 

General Instructions:

1. Download your assignment template document from Course Documents. You will find this in the “Course Resources” module in the left navigation area which is located under your Digital Book. Select the “Load More” button at the bottom of the list to view all the available documents. Look for the document entitled: Unit 1 Assignment Template 
2. Unless specified differently by your course instructor, save this assignment template to your computer with the following file naming format: Course number_section number_last name_first name_unit number 
3. At the top of the template, insert the appropriate information: Your name, course number and section, and the date
4. Insert your answers in the appropriate space provided for the question. Your answers should: 
   1. follow current APA format with citations to your sources,
   2. include a list of references at the bottom of your last page, 
   3. be in Standard English with correct spelling, punctuation, grammar, and style,
   4. be double-spaced,
   5. be formatted in Times New Roman,12-point, black font, and
   6. respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions. 

Assignment:

This assignment addresses how economists measure various nations’ economies using measures such as Gross Domestic Product (GDP). In doing so, it highlights the various components of the GDP, the difference between nominal and real GDP, and the limitations of the GDP as a measure of national income