Economics 372: Week 2 Individual Assignment

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Describe the following terms in your words. Use the textbook as your guide: 
  • Gross domestic product (GDP)
  • Real GDP
  • Nominal GDP
  • Unemployment rate
  • Inflation rate
  • Interest rate

Part 2

Consider the following examples of economic activities:
  • Purchasing of groceries
  • Massive layoff of employees
  • Decrease in taxes
Describe how each of these activities affects government, households,and businesses. Describe the flow of resources from one entity to another for each activity.
4 Pages
SKU: economics-372-week-2-individual-assignment Category: