Assignment

Explain the following information in your 1000 word report to members of the strategic planning committee for your company [you may use your existing company or invent one for this assignment]:

Resources: National Bureau of Economic Research; Principles of Macroeconomics: Ch. 1, 2, 3, 4, 5, 6, and 7.
http://www.nber.org/links/gov.html

• How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources
• Using the circular flow model, explain the flow of money and goods in an economy.
• How the economy coordinates society's independent economic actors
• A country's gross domestic product (GDP) and how it is defined and calculated
• How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living

Format consistent with APA guidelines.