Prepare a 800-1,300-word paper in which you define the following terms:
a. Gross Domestic Product (GDP)
b. Real GDP
c. National Income
d. GDP Deflator
In your paper, explain how the circular flow diagram illustrates the interaction of households, government, and business. Also, describe how current economic conditions are effecting your organization or one which you are familiar. You can search on line or in libraries to find the current economic conditions (you can find current macroeconomic economic condition in the Wall Street Journal, The Economist, Bloomberg Business week, or other quality publications). Include at least one graph developed from Excel. Identify the most important economic indicator affecting your organization and explain why.
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