1. GDP, Inflation, and Unemployment
GED® Social Studies: Macroeconomics, Government & Economic Data · preview lesson
Macroeconomics studies the whole economy. GDP measures the value of final goods and services produced in a country. Inflation means prices rise and purchasing power falls. Unemployment measures people in the labor force who are looking for work but cannot find it.
References: U.S. Bureau of Economic Analysis: GDP; U.S. Bureau of Labor Statistics: Consumer Price Index; U.S. Bureau of Labor Statistics: Labor Force Statistics
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