I need help with this task:
1. I must discuss the macroeconomic theory and present the variables that determine the gross domestic product. I must explain each variable.
2. What are the two approaches used to measure gross domestic product? But, first, I must explain each approach.
3. To measure the economic development of a country, it is necessary to evaluate the behavior of nominal and real GDP. Then, using macroeconomic theory, I need to explain the difference between nominal and real GDP.
4. How is it calculated, and what is the importance of the GDP growth rate or the GNP of Puerto Rico or any country? I must explain.
5. What is the relationship of the GDP growth rate for the business cycle? I must explain.
Could you include the references?
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