RESPOND TO STUDENTS POSTS 125 words
I believe creating smart goals helps you understand the most important things that has to be done to be successfully with whatever you want in life. Smart goals can be created for short or long term goals. I myself have goals to consider to be short and long. Timing is the most important to me because its hard to plan things when time is not in your favor. When you have a lot going on in life and trying to find time to complete certain goals it feel like time just fly right bye. Time is my most biggest probably because I tend to rush through things that could in up in failure because I didn’t really have the time or the focus. I try my best not to focus on stress because I feel it don’t help with any situation and can just make the problem more worse. I can’t speak for others but I believe and high school graduate can benefit from smart goals because it can help them understand what is most important, help with time managing, and be specific on the hard work they would have to get done to achieve their goals rather short or long term.
GDP is a statistical tool used for comparative purposes. How is an economy doing compared to the last month or the last quarter or the last year? It can be used for a five-year study or a 10-year study. It can be used to compare one country to another country. More importantly it can be used to show trends. Remove the Covid-19 virus from the picture and the normal trend would show historical fluctuations in an election year. Look at historical events such as September 11th or the Recession of 2008. Then look at the current economy and Covid-19. Covid-19 will show the same pattern of historical fluctuations. We can even look at GDP and say what types of effect the press has on how consumers react and the resulting consumer spending. Of course, the current situation is further compounded by the fact that businesses are closed and consumer spending in many industries has been suspended due to the closures and travel restrictions.
An interesting variable to watch is the indicator for Consumer Expectations. When we expect the economy to be good, or positive, we will spend. This in turn leads to consumer spending and strong GDP. However, when we expect things to be negative, we tend to hoard our money and we do not spend. This helps lead to a self-fulfilling expectation of declining GDP. As we work our way through the course you will see that the various indicators have connecting relationship. While GDP is important, it should not be looked at in a vacuum.
Respond to the following in a minimum of 175 words:
Discuss the limitations of GDP as a measurement tool.