1)GDP is used as a measure of macroeconomic performance. What, precisely, does it measure?

3)Now construct a bar graph showing your results in the previous problem, organizing the countries from the highest to the lowest GNP per capita, with countries on the horizontal axis and GNP per capita on the vertical axis.4)Suppose Country A has a GDP of $4 trillion. Residents of this country earn $500 million from assets they own in foreign countries. Residents of foreign countries earn $300 million from assets they own in Country A. Compute:

  1. a.Country A’s net foreign income.
  2. b.Country A’s GNP.

1. GDP is used as a measure of macroeconomic performance. What, precisely, does itmeasure?GDP is used to measure a country’s economy by adding up the total amount of allservices and goods…

 
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