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 ...
Get Economics now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
