Question: la. What does GDP measure and is it a good method of measurement? 1b. Is there a difference between GDP and GNP? if yes, what

la. What does GDP measure and is it a good method of measurement? 1b. Is there a difference between GDP and GNP? if yes, what is the main difference? 2. Suppose we have a population of 20 million people and 85% (.85) labor force participation rate and 10% (.10) unemployment rate in Kaifanapolis. How many persons are actually unemployed....show your work 3a. What are economic indicators (definition)? 3b. List two each examples of (a) Leading economic indicators, (b) Coincident economic indicators and (c) Lagging Economic Indicators. 4. Do a web search to find the inflation rate for the State of NJ for 2021 if available or 2020 if 2021 is not yet available and the nation (USA) as a whole? 5. Do another search and find the unemployment rate for NJ, 2020 and 2021 if currently available

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