QAEconomics › Which are indicators that economists use to measure how an economy grows? Select all that apply.
Q

Which are indicators that economists use to measure how an economy grows? Select all that apply.

1) monitoring election results

2) measuring how much the economy produces

3) monitoring the popularity of different music groups

4) studying the economy of another country

5) tracking the unemployment rate

A

Answer: 2, 4, 5. Measuring how much the economy produces, studying the economy of another country, and tracking the unemployment rate.

Economists use the above to measure how an economy grows and to examine the viability of making investments in the said country.

When a country is experiencing economic growth, these instruments are used to examine its level of growth when compared with other countries, the Gross Domestic Product (GDP) of the country, and the rate of unemployment of the citizens.

Economists use the economic indicator to gather economic data, analyze, and assess the possibilities of investing in the country.

4 months ago
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