What are the important aspects in tracking the macro-economy?
Important aspects in tracking the macro-economy:
a. How economists utilizes aggregate measures to track the presentation of the economy.
b. What gross domestic product (GDP) is and also the three methods of computing this.
c. The dissimilarity between real and nominal GDP and why real GDP is the suitable measure of real economic performance
d. The meaning of the unemployment rate and how this moves over the business cycle.
e. What a price index is and how this is used to compute the inflation rate.