1. what are the main components of measuring gdp? 2. would you usually expect gdp as measured by? what is demanded to be greater than gdp measured by what is supplied, or the reverse? 3. why must you avoid double counting when measuring gdp? 4. what is the difference between a series of economic data over time measured in nominal terms versus the same data series over time measured in real terms? 5. how do you convert a series of nominal economic data over time to real terms? 6. what are typical gdp patterns for a high-income economy like the united states in the long run and the short run? 7. what are the two main difficulties that arise in comparing different countries gdp? 8. list some of the reasons why economists should not consider gdp an effective measure of the standard of living in a country.

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

You own a nonunion company with 93 nonexempt employees. all of these employ- ees pack books into boxes for shipment to customers throughout the united states. because of wide differences in performance, you have decided to try performance appraisal, something never done before. until now, you have given every worker the same size increase. now you want to measure performance and reward the best performers with bigger increases. without any further information, which of the five types of appraisal formats do you think would be most appropriate? justify your answer. do you anticipate any complaints, or other comments, from employees after you implement your new system?

the social-cultural environment a firm operates in is constantly changing, and having a significant impact on marketing strategies. the change is so rapid and immense that some firms have created a new position in the organization to handle this change. which title best describes the new position described in the scenario?