GDP - Discuss the relationship between the level of GDP and economic well-being. What factors of well-being are missing from the GDP? Is there a point where the GDP could increase to such a high level that economic well-being could be compromised? If so, describe some of the opportunity costs associated with maximizing the GDP.

Labor Supply and Demand Scenario - • Write a scenario that would cause a shift in labor supply and demand. The following areas have had high job growth rates and can be used for your scenario: transportation, insurance, and real estate industries. o What is the area of employment? o Why has this shift occurred? o In what direction would the shift in labor supply and demand go? o What would b...

Taxation - Find two articles that discuss the local, state, or federal taxation of a good. Describe the effects of taxation and price controls on the economy. -Is the tax levied on the producers or consumers? -How does the tax affect supply or demand? -How does the tax affect the equilibrium price and quantity? -In this market, describe a hypothetical situation where a price ceiling or floor c...

Labor Statistic Calculation of the Consumer Price Index - The Bureau of Labor Statistics follows five steps to calculate Consumer Price Index. What are three strengths and three weaknesses of the Consumer Price Index calculation. • What are the characteristics of the strengths? • What are the characteristics of the weaknesses? • If the CPI is imperfect, why do we use it?

International Trade Debate - Write 200-300 words arguing for or against unrestricted international trade. Some possible platforms on which to write are comparative advantage, gains from trade, World Trade Organization, and trade restrictions. Support your position with THREE specific reasons.