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Macroeconomic Indicators - Coggle Diagram
Macroeconomic Indicators
Goals --> Indicators to check
Sustainable Economic Growth
Economic Growth Rate
Inclusive Economic Growth
Gini Coefficient
Price Stability
Inflation Rates (Consumer Price Index)
Low Unemployment
Unemployment Rate
Favorable Position of Balance of Trade
Balance of Trade
If we fail to achieve this, it will result in:
High Inflation
High Unemploymnt
Recessions
Large and Persistent Balance of Trade Deficits/Surplus
Key Economic Indicators are Important to:
Government
Make economic forecasts
Can also put in place necessary policies to achieve macroeconomic goals
Firms and Households
Make their production and investment decisions
Change consumption patterns with respect to the economy performance
Health of an Economy
Internal Stability
Sustainable and Inclusive Growth
Low Inflation Rates
Low unemployment
External Stability
Favorable Position of Balance of Trade