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The purpose of this is assignment is for students to review the basic principles of economics and the concepts of the circular flow model, showing the connectivity of society’s economic players and the flow of goods and money within an economy. Students will learn how society allocates its scarce resources and how economists are both scientists and policymakers. Students will define GDP and CPI and how they are calculated.
Resources: National Bureau of Economic Research; Principles of Macroeconomics: Ch. 1, 2, 3, 4, 5, 6, and 7
Scenario: Your organization’s CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles.
Prepare a 1,000-word worksheet (worksheet is attached) for the members of the strategic planning committee explaining the following information:
Fill-in the attached worksheet. Make sure your final submission is formatted according to APA guidelines with an APA title page, APA citations within the text and a final page with APA formatted references.
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