Fundamentals of Macroeconomics Essay

* Gross Domestic Product (GDP)- is the market value of on the whole goods and services within a country in a close of time (Hindsight). * Real GDP- account for changes in the price level, an adjusted measure out compared to Nominal GDP. * Nominal GDP- When a GDP figures that has not been adjusted for inflation. * Unemployment Rate- The valuate is measure of unemployment citizens by dividing the number of un employed by all shortly employed. * Inflation Rate- Prices of items and services is rising, while purchasing power is in decline. * touch Rate- The interest is paid by borrowers for the use of money they borrow from a loan lender.Part 2An example would be food stamps gross sales and the groceries affects. A household family relies on the food stamps received from the American government activity, indeed used at the local Piggly Wiggly when buying the food. For someone who whole kit and boodle for local government a massive layoff of employees is less likely. However, as an employed worker you are working harder for less money. A impact on retirement savings such as government cashing out citizens 401ks. The government giving less money for grants for school or improvements on roadways, and few services provided to the citizens. A tax decrease will increase expendable income in a household. Disposable income is the main factor driving consumer demands. As a business, it encourages risk taking, hiring more employees, and even entrepreneurship. Government could have the diametrical effect. Lowering taxes could mean cuts in department and services provided to the public.ReferenceHindsight. (n.d.). Retrieved from http//www.forex-for-retirement.com/ strike out/hindsight/?lang=en_us&output=json&session-id=80f9522cbf28b08ef5fb257eb83c3330