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Avoid the Hustle

f Macroeconomics.
Resource: Figure 3-1 in Ch. 3 of Macroeconomics.

Part 1

Describe the following terms in your words.

·       Gross domestic product (GDP)
·       Real GDP
·       Nominal GDP
·       Unemployment rate
·       Inflation rate
·       Interest rate

Part 2

Consider the following examples of economic activities:

·       Purchasing of groceries
·       Massive layoff of employees
·       Decrease in taxes

Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.

Write a 700- to 1,500-word paper summarizing the results.

f Macroeconomics.

Resource: Figure 3-1 in Ch. 3 of Macroeconomics.
Part 1
Describe the following terms in your words.
·       Gross domestic product (GDP)
·       Real GDP
·       Nominal GDP
·       Unemployment rate
·       Inflation rate
·       Interest rate
Part 2
Consider the following examples of economic activities:
·       Purchasing of groceries
·       Massive layoff of employees
·       Decrease in taxes
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Write a 700- to 1,500-word paper summarizing the results.