Economic Indicators
Unemployment refers to the total percentage of a country’s workforce that is unemployed and is looking for a paid job. The unemployment rate refers to the percentage of the whole population that is actively seeking paid employment. This rate is reached at by dividing the number of working individuals by the already working individuals in the work force, In statistics, a rising unemployment rate is an indicator of a weakening economy and necessitates a reduction in the interest rates. On…...
Gross Domestic ProductInflationMoney
GDP: A Country’s Key Progress Determinant?
The “health” of the economy is a constantly debated topic of economics with the modern accentuation of more global economies, the recognition of the business cycle, and alternative indicators to measure the vitality of countries and other regions. The GDP,(gross domestic product), of an economy is one of the most essential determinants of a country or region’s progress, collectively quantifying the aggregate value of all goods and services produced in an economy. The term is used to determine the growth…...
Gross Domestic ProductInflationPoliticsPoverty
The Definition of Economic Growth and Gross Domestic Product
Define economic growth and explain why Gross Domestic Product fails to provide an accurate overview of the quality of life of a nation. Economic growth is a positive change in the level of production of goods and serVices by a country over a certain time period. Nominal growth is defined as economic growth including inflation, while real growth is nominal growth minus inflation. Economic growth is usually brought about by technological innovation and positive external forces. Even though Gross Domestic…...
Gross Domestic ProductInflationPoliticsPoverty
Debate on the Future of United State’s Gross Domestic Product Growth Rate
There has been a lot of debate on the future of United States Gross Domestic Product growth rate. To many. Gross Domestic Product has gone beyond repair, Going by the previous economical estimates, it is true that the country has been experiencing reduced Gross Domestic Product. However, there are signs that United State is on the path to increasing its GDP. Despite the fact that the country has gone through recessions in the past, i am beyond reasonable doubt that…...
Gross Domestic ProductMoneyPolitics
An Introduction to the Gross Domestic Product GDP
The main macroeconomic variables are Gross Domestic Product (GDP). unemployment rate and inflation. They are used by countries to determine their economic status and international competitive ability. The macroeconomic variables can be forecasted to allow the government to make prior arrangements to reduce their effects and probability of experiencing negative trends from them. High rate of unemployment is harmful to the economy as well as high rate of inflation. On the other hand, high GDP in a country is beneficial.…...
EmploymentGross Domestic ProductInflationUnemployment
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