Economy Reading Questions And Article Summary
Please follow the requirement of the summary which I post in the attachment, and between 200-250 words.
The article need to summarize is
"How Imports INCREASE GDP," by Thomas Firey, The Library of Economics and Liberty, Sept 11, 2018
www(dot)econlib(dot)org/how-imports-increase-gdp (Links to an external site.)Links to an external site.
The questions need be answered is
Go to the World Economic Forum
www(dot)weforum(dot)org (Links to an external site.)Links to an external site. Find the latest Global Competitiveness Report.
Answers these questions -
1. Which are the top 10 countries?
2. Which are the bottom 10 countries?
3. What are the criteria used to compile the index?
4. What are the most exceptional criteria for the top nation
and the bottom nation -- i.e., what is the top nation (supposedly) really good in, and
the bottom nation really bad in?
Article Summary
Student’s Name
Institutional Affiliation
Article
Firey, T. (2018). How Imports INCREASE GDP. The Library of Economics and Liberty. Retrieved from /how-imports-increase-gdp
Brief Article Summary
Thomas Firey states that it is wrong to assume or/and argue that imports reduce gross domestic product as shown in the formulae that GDP=C + I + G- (X-M), where M is the value for imports in the national expenditure data. Firey believes that this is a common mistake that is made by everyone including renowned economist, major political figures, and trade advisers among others. This article used practical examples to show that this is a huge mistake that should be avoided.
This article supports the idea of...