18

docx

School

Southern New Hampshire University *

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Course

104

Subject

Economics

Date

Nov 24, 2024

Type

docx

Pages

1

Uploaded by LieutenantNarwhalPerson860

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Please tell the class about your background and reasons for taking this course and what you expect to gain from this class. Discuss the three primary concerns in macroeconomic analysis. In this week’s lesson, I learned that the three primary concerns in the macroeconomic analysis are employment and unemployment, inflation, and economic growth. For a better economy, we need people to be employed, so the concern in microeconomics is to have a lower unemployment rate. Unemployment occurs when all people who are willing and able to work can obtain a job. To be considered unemployed by an economist, you must be actively seeking employment. Another concern is inflation, inflation is defined as a sustained rise in the general price level over a period of time. There are multiple reasons why inflation can occur and when it does it really hurts the economy. The last concern is economic growth and the rise of the gross domestic product (GDP). GDP is the total market value of all final goods and services produced in a given year. GDP is the primary measure of the economy’s performance and is computed as the sum of consumption, investment, government purchases, and net exports.
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