Problem

1. The concept of GDP is used by policy makers for many purposes that include keeping track of the growth of our economy and forecasting a recession; but it is also abused by some. Discuss some of the applications of GDP which may be considered improper use or abuse of the concept.

2. "Even though the Great Recession officially ended, the unemployment rate is still considered high." Discuss.

3. Discuss how the distribution of income among various groups of income earners have changed in this country during the past 50 years. In your opinion, do we need to initiate any policy to address the distribution of income? Make sure you provide references to any conclusions you arrive at.