ECO 372 Week 2 Principles of Economics and the Data of Macroeconomics

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ECO 372 Week 2 Principles of Economics and the Data of Macroeconomics
Explain the following information in your 1000 word report to members of the strategic planning committee for your company:
• How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources
• Using the circular flow model, explain the flow of money and goods in an economy.
• How the economy coordinates society's independent economic actors
• A country's gross domestic product (GDP) and how it is defined and calculated
• How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
SupportingMaterial:Grading GuidePrinciples of Macreconomics, Ch. 1: Ten Principles of EconomicsPrinciples of Macreconomics, Ch. 2: Thinking like an EconomistPrinciples of Macreconomics, Ch. 7: Consumers, Producers, and the Efficiency of MarketsPrinciples of Macreconomics, Ch. 6: Supply, Demand, and Government Policies Principles of Macreconomics, Ch. 5: Elasticity and Its ApplicationPrinciples of Macreconomics, Ch. 4: The Market Forces of Supply and DemandPrinciples of Macreconomics, Ch. 3: Interdependence and the Gains from Trade 
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