Title: Examine economic factors that describe the economic well-being of a country.
Course: Opportunities in Global Trade (12056-I) > Section: Exploring the Realities and Fluctuations of the Global Economy

Examination should include an explanation of how gross domestic product (GDP), gross national product (GNP), and consumer price index are used as economic measures. Examination also focuses on forces behind the fluctuations in interest rate levels, unemployment, consumer price index, inflation rate, balance of trade, level of foreign debt, technological progress, and cost of living and how they are all interrelated.

Process/Skill Questions:

- What are the components of GDP for selected countries?
- What are the problems in measuring the GDP?
- How can progress in technology affect the economic growth of a country?
- How are GDP and GNP similar? How are they different?
- What are alternative measures to GDP (e.g., "true cost economics")?
- How do world events affect GDP? GNP? What are recent examples?
- What is the relationship between economic indicators and human progress?
- How does the level of unemployment affect economic growth?