Gross domestic product (GDP)

Describe the following terms in your word. 

 Gross domestic product (GDP)
 Real GDP
 Nominal GDP
 Unemployment rate
 Inflation rate
 Interest rate

Part 2

Consider the following examples of economic activities:

 Purchasing of groceries
 Massive layoff of employees
 Decrease in taxes

Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.

Write a 700- to 1,500-word paper summarizing the results  FOR MORE INFORMATION ON THIS TOPIC CLICK HERE