Answer to Question #243464 in Macroeconomics for puffy

Question

Define and discuss the following economic tools

a)   GDP growth

b)   Employment

c)   Interest rate

d)   Inflation rate

e)   Foreign exchange rate

 

Answer 1

a) The GDP growth rate examines the change in a country's economic production year over year (or quarterly) to determine how fast it is increasing.

b) Employment is to be in a state of being paid for work done.

c) An Interest rate The amount charged by a lender to a borrower for any type of debt.

d) Inflation is the rate of increase in prices over a given period of time.

e) Foreign exchange rate is the rate at which one currency will be exchanged for another.