Ten Principles of Economics and the Data of Macroeconomics

  Scenario: Your organization's CEO is concerned that members of the strategic plannin" rel="nofollow">ing committee are not familiar with current economic thought and prin" rel="nofollow">inciples. The CEO has assigned you the task of developin" rel="nofollow">ing a report to in" rel="nofollow">introduce some of these thoughts and prin" rel="nofollow">inciples. Develop a 1,050-word report to the members of the strategic plannin" rel="nofollow">ing committee explain" rel="nofollow">inin" rel="nofollow">ing the followin" rel="nofollow">ing in" rel="nofollow">information: How economists are both scientists and policymakers and what prin" rel="nofollow">inciples society uses to allocate its scarce resources. Usin" rel="nofollow">ing the circular flow model, explain" rel="nofollow">in the flow of money and goods in" rel="nofollow">in an economy. How the economy coordin" rel="nofollow">inates society's in" rel="nofollow">independent economic actors. A country's gross domestic product (GDP) and how it is defin" rel="nofollow">ined and calculated. How the consumer price in" rel="nofollow">index (CPI) is constructed and why it is an imperfect measurement of the cost of livin" rel="nofollow">ing.