ECO 372 WEEK 2 INDIVIDUAL FUNDAMENTALS OF MACROECONOMICS PAPER Click Here to Buy the Tutorial http://www.uoptutorial.com/index.php?route=product/product&path=114&product _id=1358 For more course tutorials visit www.uoptutorial.com
Resource: Figure 3-1 in Ch. 3 of Macroeconomics.
Part 1
Describe the following terms in your word.
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Gross domestic product (GDP)
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Real GDP
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Nominal GDP
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Unemployment rate
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Inflation rate
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Interest rate
Part 2
Consider the following examples of economic activities:
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Purchasing of groceries
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Massive layoff of employees
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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.