a) What problems may one encounter in comparing the GDP of different nations?
b) Find the difference between GDP and GNP; then write one reason for GDP to be a good measurement of economic growth, and one reason for GNP to be a good measurement of economic growth.
c) What is the Happiness Index? And what indicators are included in this index? Add three (3) new indicators of your own, then give reasons why they are important.
d) How does the disrupted economy due to Covid-19 affect you and the overall economy? State three economic indicators that are affected.
Use as many economic principles (from the textbook and other sources) as you can in answering the questions.
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