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14 May, 08:19

What three measures of the economy tend to closely move together during the business cycle?

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  1. 14 May, 09:00
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    1. Real gross domestic product

    The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period; you can think of it as the size of the economy.

    2. Employment

    Employment is a relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for profit, not-for-profit organization, co-operative

    3. Inflation

    Inflation is a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase. As inflation rises, every dollar you own buys a smaller percentage of a good or service.
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