Question: Read the August 30, 2023 BEA press release on GDP and answer the following questions: https://www.bea.gov/news/2023/gross-domestic-product-second-quarter-2023-second-estimate-and-corporate-profits In a few sentences, discuss what happened to GDP

  1. Read the August 30, 2023 BEA press release on GDP and answer the following questions:https://www.bea.gov/news/2023/gross-domestic-product-second-quarter-2023-second-estimate-and-corporate-profits
  2. In a few sentences, discuss what happened to GDP in the second quarter of 2023. [5 points]
  3. How did the 2nd quarter GDP compare to the 1st quarter GDP? Was there an increase or decrease? [5 points]
  4. How did each of the components of GDP (C, I, G, NX) influence the increase/decrease of GDP from the 1st quarter to the 2nd quarter? [5 points]

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