ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“Prices for consumer goods down 5% this year!” This headline affects which economic indicator the most?
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Unemployment
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Consumer Price Index
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Productivity
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Gross Domestic Product (GDP)
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Explanation:
Detailed explanation-1: -The most comprehensive measure of overall economic performance is gross domestic product or GDP, which measures the “output” or total market value of goods and services produced in the domestic economy during a particular time period.
Detailed explanation-2: -This usually results in job losses and an increase in the unemployment rate. While there is no single definition of recession, it is generally agreed that a recession occurs when there is a period of reduced output and a significant increase in the unemployment rate.
There is 1 question to complete.