Openstax textbook - Introduction to Chapter 19 on The Macroeconomic Perspective. In thinking about the macroeconomy's overall health, which of the following is NOT one of the three primary goals mentioned in the introduction? A) low inflation OB) high personal income C) economic growth
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- GDP is very widely used throughout the world as a measure of Economic health. Give an example, either real or a scenario, that shows a flaw with using GDP as the only indicator of the well being of a society.Why do you think macroeconomists focus on just a few key statistics when trying to understand the health and trajectory of an economy? Would it be better to try to make use of all possible data?Why do economists and managers pay attention to the measurements of macroeconomic activity?
- (a) Are national income statistics a good way to compare the standard of living between different countries? Is there a better approach that could be used? (b) Why is Irish GDP always larger than Irish GNP and which is a better measure of the health of the Irish economy? (c) Which do you believe is the most important government macroeconomic objective? Justify your answer.Fluctuation of savings and investment rates impact on GDP of any macroeconomics. Comment with the help of example and graphically as welexplains it correctly and not copy paste from anywhere Q)Name a few macroeconomic problems (4-5 problems). And write down how they arose and briefly describe the ways to solve them
- Which would be more difficult to forecast 10 years fromnow: the number of 60-year-olds or their average disposable income? Why?Definitions of major macroeconomic indicators ( No plagiarism plz)Give an example of a consumption good and an example of an investment good. Explain why the two are different, as a macroeconomist would think of them differently. Also, explain why investment is important for the long term health of an economy.
- There are many factors that can influence the economy. Do you think natural disasters affect the economy? Use a concrete example to explain how a natural disaster can impact each of the 4 major indicators listed above (demand, inflation, unemployment and GDP).Describe the ways the various components of GDP were impacted by the pandemic? Plz do fast asap.Which sector (Households, Businesses, or International) spends the most? Which sector spends the least? Which sector, because of its volatility, has an importance greater than is warranted by its size?