Assignment 3 - GDP

This assignment submission should consist of the following sections:the title page, introduction and country choice, main body response to the sections of parts I and II, conclusions and APA references.

Part 1: Short Answer Questions (Each 10 points, Total 50 points)

Please answer each of the following questions in approximately 2-3 sentences.Provide contemporary exampleswhere necessary:

1. Define a recession.
2. Identify and explain two leading indicators of a recession.
3. What is the role of the business cycle in understanding recessions?
4. Explain the term "economic shock" and provide one example relevant to a recession.
5. What are countercyclical policies and how might they be used during a recession?

Part 2: Essay

Write a 500-word essay on the following topic:

1. Choose a recent recession (within the past 2 years) from any country.
2. Discuss its main causes, how it impacted the economy (e.g., employment, inflation, GDP, GDP Per Capita and how it compares to GDP)
3. Identify the measures taken by the government to mitigate its effects.
4. Compare that impact to the impact the Covid-19 pandemic had on that country's GDP.
5. Finally, discuss whether these measures were successful or not and explain your reasoning.

Your essay should have a clear introduction, body, and conclusion. You will be graded on the following criteria:

Content Accuracy :All factual information must be correct and relevant to the topic.

Analysis :The essay must include analysis of the recession's causes, impacts, and recovery strategies.

Critical Thinking :The essay should reflect a clear understanding of the topic and include the student's insights.

Organization and Writing Quality :The essay should be well-structured with clear language, correct grammar, and proper punctuation.

Submission: All answers should be typed and submitted in a Word documentBottom of Form