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ECONOMIC HEALTH - Economic Health Running head Measuring...

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Economic Health 1 Running head: Measuring Economic Health Memo Measuring Economic Health Memo University of Phoenix ECO/212 Morris Jackson June 4, 2007
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Measuring Economic Health Memo Most regions and countries governments around the world closely observe their economic health. One of the ways that some countries accomplish this is through the method called Gross Domestic Product, also known as the GDP. GDP, according to Gregory Mankiw Principles of Economics (2007), is the market value of all final goods and services produced within a country in a given period of time. The Gross Domestic Product is used to measure the business cycle. Business cycles reflect fluctuations in the growth of real GDP. A business cycle, “is the periodic but irregular up and down movement of total production and other measures of economic activity” (Mankiw, 2007). The economic fluctuations will correspond to changes in business conditions. When the Gross Domestic Product increases quickly, business is good.
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