Economics Homework Help

I’m stuck on a Economics question and need an explanation.

You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are asked to write a professional document that discusses the concepts below.

• Define Gross Domestic Product (GDP).
• Differentiate between Real GDP and Nominal GDP.
• Explain how the GDP of the U.S. may influence the sale of smartphones by TOF.
• What percentage of the GDP is attributed to the sale of cellular phones (including carrier services) in the United States?
• Define the Human Development Index (HDI).
• Explain if the HDI has an influence on the sale of smartphones in the U.S.
• Which aspect of the HDI might influence the sale of smartphones?
• Identify the target audience for the sale of smartphones in the U.S.