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1. The US changed the way we measure our economy from the position of Gross National Product to Gross Domestic Product. Compare and contrast the 2 and,
in your opinion, choose which one is better. (one page min) 2. Why
do economists include only final goods and services in measuring GDP
for a particular year? Why don’t they include the value of used goods,
i.e. cars, furniture, etc., bought and sold? (one page min)Define
net exports. Explain how US exports and imports each affect domestic
production. How are net exports determined? Explain how net exports
might be a negative amount. (one page min)

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