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Economics
book

Economics

by Terry Hillman
July 2014
Beginner content levelBeginner
384 pages
8h 39m
English
DK Publishing
Content preview from Economics

CHAPTER4

How Economists Gauge the Economy

In This Chapter

  • Measuring the health of the economy by the size and changes of the gross domestic product and its components
  • The unemployment rate, consumer sentiment, consumer price index, and other indicators of economic health
  • Quantifying the goals of business and the consumer
  • Labor policy issues

A major theme in economics is choice—consumer choice, which combination of products to produce, does a worker choose more work time or more leisure time, does a farmer plant wheat or corn, and so on.

Another important occupation of economists is measuring. They measure the size of the government, whether ...

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Publisher Resources

ISBN: 9781615645022