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The beautifulness in Macroeconomics

The beautifulness in Macroeconomics. Author: Daeisha Breanna Carrie Fowler. What is Macroeconomisc ?. Macroeconomics measures economic growth on a large scale. It looks at the “BIG PICTURE” of economics. What exactly does it measure?. It measures: -Inflation -GPD -Unemployment rate

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The beautifulness in Macroeconomics

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  1. The beautifulness in Macroeconomics Author: DaeishaBreanna Carrie Fowler

  2. What is Macroeconomisc? • Macroeconomics measures economic growth on a large scale. • It looks at the “BIG PICTURE” of economics.

  3. What exactly does it measure? • It measures: -Inflation -GPD -Unemployment rate -Economic growth

  4. Gross Domestic Product • Gross Domestic Product (GDP) is the total number of goods and services produced in an economy. • Equation for GDP: GDP= C+I+G+(x-n) • C= Consumer’s spending • I= Investments • G= Government spending • (x-n)= Exports- Imports

  5. Inflation • Inflation is an increase in the average price of goods and services in an economy. • When the prices of goods and services increase, consumers are forced to only have less of their money and they’re spending more than they ever did before.

  6. Equation for inflation • We use Consumer Price Index (CPI) to calculate inflation. • CPI= cost of today’s market basket Cost of market basket in previous year

  7. Unemployment rate • Unemployment is generally a portion of the labor force is that isn’t working but is actively look ing for a job abd is willing to work. • How To Calculate The Unemployment Rate: # of people looking for work (Unemployment + employment; labor force)

  8. Economic Growth • an increase in real output as measured by real GDP or per capita real GDP • If GDP increases, then the economy experiences economic growth

  9. How To Calculate economic growth • (real GDP yr2 - real GDP yr1)/(real GDP yr1) * 100

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