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Consider the following exchange: I don’t know why people refuse to acknowledge this point “Our deficit...

Consider the following exchange:
I don’t know why people refuse to acknowledge this point
“Our deficit hurts our economy”
“No it doesn’t”
“What’s the formula for GDP”
“GDP =C + I + G + (X – M)”
“Lowering M increases GDP. It’s math”


1- How would you respond to the exchange above as an economist? Be specific and clear when crafting your response. Explain your answer as if you were teaching a friend that has never learned about GDP.

2- How would you change the accounting identify so that it makes more sense to people? Explain your change.
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