The Measure of Economic Health ECO203: Principles of Macroeconomics

The Measure of Economic Health Measuring economic health means taking a closer look at how a country is functioning and whether it is growing. Economic growth is the level of real per capita output; the measurement of the total economic output of a country divided by the number of people then adjusted for inflation. The government, businesses, and the people living within a country all play very important roles in whether the country they live in maintains a healthy economy. If most of the people work towards a common goal, the structure of the country will remain strong. Macroeconomics looks at the economy, across markets, and studies the behavior of the whole economy (Amacher & Pate, 2019). Understanding the...