economics
Not what you're looking for?
Economic indicators are economic statistics that tell us how well the economy is doing. The GDP, unemployment rate, and inflation rate are the most common macroeconomic indicators. The change in the GDP tells us whether the economy is in an expansion or recession. GDP is the total value of all final goods and services produced in within a country in a given year.
1. Do you think the GDP is a good indicator of economic well-being?
2. What other factors do you think contribute to a good standard of living?
Purchase this Solution
Solution Preview
1. I think GDP is a good indicator of economic well-being for the country, but not for citizens.
GDP per capita is not a measurement of the standard of living in an economy. it does not suggest how citizens would benefit from their country's increased economic production. Similarly, GDP per capita is not a measure of personal income. GDP may ...
Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.