ECO 372 Week 2 Individual Assignment

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  • ECO 372 Week 2 Individual Assignment
  • ECO 372 Week 2 Individual Assignment
  • ECO 372 Week 2 Individual Assignment
  • ECO 372 Week 2 Individual Assignment
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ECO 372 Week 2 Individual Assignment

Individual Fundamentals of Macroeconomics Paper

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

Part 1

Describe the following terms in your word.

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.

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