Write a short essay that describes how the GDP and CPI measurements are calculated. In your essay, do the following:

• Describe the four categories in the GDP. Provide examples of each category.
• Describe how the CPI is calculated. Use the link here for your research, but feel free to use additional resources.
  • US Bureau of Economic Analysis
• Do you think the GDP is a good indicator of the strength of the US economy? Why or why not?
• Do you think the CPI is a good indicator of inflation? Why or why not?
• Click the link below to go to the website of the Bureau of Labor Statistics and locate data on the US CPI. Use the link here for your research, but feel free to use additional resources.
  • US Bureau of Labor Statistics

Answer rating: 100% (QA)

Title Understanding GDP and CPI Measurements in the US Economy The Gross Domestic Product GDP and Consumer Price Index CPI are key indicators used to ... View the full answer