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Unformatted text preview: MEMORANDUM To Jack Karczewski From Shannon Hackett Date November 29, 2010 Re Measuring Economic Health Memo Gross Domestic Product (GDP) is an evaluation of a nations general financial production. Gross domestic product is the authorized way to calculate the entire production of goods and services in the United States economy. The GDP is connected to the business cycle in a way that travels along the same path and has a direct impact on the outcome of the cycle. When we have a rise in gross domestic product there can be an expansion in the business cycle which then gives them a period of growth. When we have a fall in the gross domestic product this can lead to the business cycle to experience a recession (Mankiw, 2007.) The Department of Treasury manages implements and constructs the fiscal policy. The office of Management and Budget will develop and analyze the fiscal policy, and the Office of the President of the United States makes all the decisions in regards to the fiscal policy. The fiscal policy refers to the United States makes all the decisions in regards to the fiscal policy....
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