Answer to Question #312113 in Macroeconomics for S.George

Question

Economic indicators used to measure each macro economics objective

Answer 1

• Economic growth: defined as an increase in the nation’s output of goods and services over time
• Low unemployment: meaning that nearly everyone who is willing and able to work should be able to find a job, and
• Low inflation: meaning that the average price level of the nation’s goods and services should not increase too rapidly over time.